Anybody know about them ?

As you seem not to bother about researching the company
below is how it came to market on 14th - 04 - 2014 @ 210p


Seplat PDC sets IPO price at 210p a share

Seplat Petroleum Development Company has priced its IPO at 210p a share, for those traded on the London main market, and at NGN576 share for those included on the NSE.

The commencement of conditional dealings in the Ordinary Shares on the LSE is expected to occur today at 8 am (London time) under the ticker symbol "SEPL". Commencement of unconditional dealings was expected to be April 14.

Upon listing, Seplat would be the first Nigerian company to have its ordinary shares listed on both the LSE and the NSE.

Based on the offer price, the total market capitalisation of Seplat at the commencement of conditional dealings would be about £1.14 billion, excluding the exercise of the over-allotment option.

The Global Offer comprises a base offering of 143,284,130 new shares issued by the Company, representing 26.4% of its enlarged issued share capital, excluding the exercise of the over-allotment option.

The Base Offer will raise gross proceeds of about £300.9m.

The Over-allotment Option shall consist of 10,336,183 new shares representing 15% of the final amount allocated to investors outside of Nigeria in the Base Offer. The Over-allotment Option can be exercised for a period of 30 calendar days from today

Net proceeds of the Global Offer will primarily be used to acquire and develop new acquisitions, and/or pay down any additional debt raised in connection therewith, of both onshore and shallow offshore acreages, assets and joint venture farm-ins.

About US$48 million would be used to pay down in full a shareholder loan from MPI S.A.

Ist day of bounce for the stock since the shap fall

rekirkham

Another sarcastic Southerner, lol

2 stock with fraud problems AFR and SEPL getting together?

http://www.thecapital.ng/index.php/1341-fraud-rumble-in-seplat-3-sacked-orjiako-avuru-on-war-path

Birds of a feather stick to together

Look like seplat mean business

Seplat Petroleum Development Co. (SEPL), a Nigerian oil producer that raised about $500 million in a share sale this year, is looking to buy natural-gas assets to take advantage of higher prices in Africa’s biggest economy.

“Two things are driving the gas-commercialization business: the gas price and increasing demand,” Chairman Bryant Orjiako said in an interview yesterday in Cape Town. “Another thing that we’re doing is to find any available source of gas.”

Nigeria, the holder of Africa’s largest gas reserves, raised the price of gas to power plants to $2.50 per million standard cubic feet plus 80 cents for transport in August, from $1.50.

The country increased gas tariffs to help spur supplies to power plants in Nigeria, which generates less electricity than is needed by Africa’s biggest population of about 170 million. This causes regular blackouts that the government says are a bottleneck for growth, with a shortage of the fuel for stations being one reason why generation is below capacity.

The nation wants to almost triple natural-gas production capacity to 11 billion cubic feet a day by 2020 to help meet its electricity and industrial development needs, Oil Minister Diezani Alison-Madueke said in September. Nigeria loses at least $3 billion in revenue a year by burning off associated gas, which is pumped together with crude oil, according to the Petroleum Ministry. Flaring was taking place because the domestic fuel prices were so low.

Shell Assets
Seplat has contracts to supply power generators and is in discussions to add others, Orjiako said. The company sells its gas for about $3 per 1,000 cubic feet to electricity plants, Chief Executive Officer Austin Avuru said in April. The price for the fuel has risen from about 20 cents only a couple of years ago, he said.

“We are interested in every divestment in the onshore and shallow water,” he said. “Shell, having the largest footprint, obviously has the ability to put up all these assets so we’re looking at all of these.”

see next results in 2017 more losses. note holder has 21.37 % latest am not following will review stock @ 50p BB s/p 70 p 22.2.17