• Saturday, July 20, 2024
businessday logo


Seplat to list in London, Lagos on April 14


Nigerian energy firm Seplat expects its shares to start trading on both Lagos (NSE) and London (LSE) stock exchanges on April 14, the company said in a statement.

It said that it set a price range of 535-700 Nigerian naira in Lagos and 1.95 to 2.55 pounds in London, which would give a total initial public offering of $500 million.

The company said it expected its total market capitalisation to come in at $1.995 billion or 329.5 billion naira, adding that it would use the proceeds to acquire new oil assets and pay down debt and a shareholder loan of $48 million.