Seplat becomes first oil firm listed on stocks market
Seplat Petroleum Development Company Plc, yesterday, became the first indigenous Nigeria crude oil production company to be listed simultaneously on the Nigerian Stock Exchange (NSE) and London Stock Exchange (LSE).
This development occurred just as the Minister of Petroleum Reourses Diezani Alison Madueke promised to lead other oil firms to the capital market.
Seplat has listed 543 million units of share at N576.00 kobo per share on the NSE but before the close of trading, the shares have recorded a gain of 10 per cent at N608.00 kobo, while in London, it listed at 210 Pounds.
Speaking at the occasion, Alison Madueke who was impressed with the development, said government of President Goodluck Jonathan will support Nigerians to venture into oil and gas business for the growth of the economy.
She said: “If we do not support Nigerians in the manner which government is doing, this sector will not have had historically a number of indigenous marketers and operators not only in upstream but in midstream and downstream sectors of the oil and gas.”
On his part, Minister of Trade and Investment, Olusegun Aganga, urged others companies to emulate Seplat, saying: “What they did is not easy in anyway, listing in local and London bourse. What is significant about this is wealth creation and creating a new consumer growth.”
Seplat heralded a new era for the Nigerian exploration and production companies as its shares began trading on the official training list of the Nigerian bourse.
Reacting to the development, Chairman of Seplat, Dr. ABC Orjiako, said the company was happy to welcome a range of blue chip investors into the share register.
Meanwhile, Trading Over The Counter (OTC) of the National Association of Securities Dealers (NASD) edged to N111 million and 438,249 respectively in 61 deals, from N107 million and 418,665 respectively in 54 deals transacted by the end of March 2013.
This was as a result of additional four new securities which were added to the list of tradable securities in the past one week.
The new securities are Afriland Properties Plc and Riggs Venture West Africa Plc. This has pushed the total number of securities tradable on the NASD OTC Market to 15.
One issuer, Golden Capital Securities Plc, applied to be fully admitted as a company on the market.
By this action, Golden Capital became the first company whose entire stock of shares 1,170,324,536 ordinary shares of 50Kobo each would be fully dematerialised into Central Securities Clearing System (CSCS).
Chairman, Heirs Holdings Tony O. Elumelu with UN Secretary General Ban Ki Moon at the joint UN General Assembly-Economic and Social Council (ECOSOC) conference in New York, where Elumelu gave the keynote address recently.