Seplat Energy Plc has officially entered the record books, crossing the coveted N8 trillion (N8.1trillion) market capitalisation threshold as its stock price surged to a 52-week high of N13,552.60 on the Nigerian Exchange Limited (NGX).
This historic valuation milestone represents a major watershed moment for Nigeria’s premier independent energy company, reflecting a powerful alignment of bullish market sentiment, aggressive institutional and retail accumulation, and stellar corporate performance.
At the heart of this re-rating is the direct correlation between Seplat’s soaring share price and its growing market value, a rally heavily catalysed by strategic shifts in ownership, most notably the entry of billionaire investor Tony Elumelu through Heirs Energies.
Seplat was trading around N5,809 per share just before the major ownership shift and subsequent market re-rating took full effect. The rocket-like trajectory of Seplat’s stock price – climbing from its previous lows to scale the N13,552.60 peak – has fundamentally transformed the net worth profile of its primary stakeholders.
This monumental valuation is anchored by exceptionally strong operational fundamentals, clearly evidenced in Seplat’s audited half-year (H1) financial results. Taking full advantage of a supportive commodity price environment and bolstered production – averaging 139,509 barrels of oil equivalent per day (boepd) – Seplat reported a massive surge in financial performance.
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Read Full Article by Iheanyi Nwachukwu at businessday.ng
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