Se­plat be­comes first oil firm listed on stocks mar­ket

Daily Trust - - BUSINESS / NEWS - From Kay­ode Ekun­dayo,& Kay­ode Ogun­wale, La­gos

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.

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