SEPLAT Petroleum Development Company Plc, the first upstream company to be listed on the Nigerian Stock Exchange (NSE), has increased its capital base by about N5.78 billion with the absorption of the oversubscription from its recent $500 million initial public offering (IPO).
SEPLAT at the weekend added about 10.03 million ordinary shares of 50 kobo each to its shares. The company attributed the additional shares to oversubscription and allotment that resulted from the recent IPO.
After a highly successful global IPO of $500 million, SEPLAT had made history mid April as the first upstream company to be listed on the NSE. It also simultaneously listed its shares on the London Stock Exchange (LSE).
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