When Seplat made its debut on the London and Lagos Stock Exchange, it was a milestone in a remarkable journey for the Nigerian upstream oil and gas company.
Seplat hopes that investors’ appetite for resource stocks and exposure to Nigeria’s fast growing domestic market will boost its initial public offering on the London and Lagos Stock Exchanges.
Bryant (ABC) Orjiako, the co-founder and chairman of Seplat, practiced as a specialised orthopaedic and trauma surgeon in Lagos, Nigeria, before making the big switch to full-time business in perhaps the most competitive and demanding sector in the economy – oil and gas.
Seplat, one of Nigeria’s biggest locally owned oil companies, became the first company from that country to have a dual listing on the main exchanges of both London and Lagos. It raised $500m to capitalise on the ongoing transfer of assets from the oil majors to indigenous firms.