Sustainable Capital Limited, an owner-managed investment manager that is based in Moka, Mauritius has raised its equity stake in Seplat Energy Plc to 8.93 percent as against 7.79percent.
Seplat Energy Plc is a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and London Stock Exchange.
According to Seplat filing at the Nigerian Exchange Limited (NGX), Sustainable Capital Limited (in an undisclosed value of transaction) on December 13 reached the 8.93 percent equity threshold.
Seplat share price has risen this year by 61.5percent. It has outperformed other Oil & Gas stocks on the Nigerian exchange.
Seplat Energy shares traded at N1,050 per share as at Thursday December 15. At the current price, Seplat trades above its 52-week low of N650 per share, but still far from its 52-week high of N1,430.5 per share. Seplat has 588,444,561 shares outstanding.
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Sustainable Capital Limited which specialises in research and management of listed African equities now holds 52,544,527 units as its total number of voting rights in Seplat Energy Plc.
Seplat Energy unaudited results for the nine months (9M) ended September 30, 2022 shows it recorded rise in profit before tax (PBT) by 90.3 percent to N77.5billiin from N38.6billion year-on-year (YoY).
The company also generated cash from its operations to the tune of N154billion from N64.9billion year-on-year, rising by 124.7 percent.
The energy Company’s also grew its revenue by 34.4 percent to N258.7billion from N182.7billion year-on-year; as its gross profit soars to N118.5billion from N58.1billion year-on-year, rising by 93.5 percent.
