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Seplat to list in London, Lagos on April 14

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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.