- Seplat appoints Canaccord Genuity and Peel Hunt as joint UK corporate brokers
- Share trading surges on both the London and Nigerian exchanges
- Heirs Energies stake purchase boosts market confidence in Seplat
Seplat Energy Plc has named Canaccord Genuity Limited and Peel Hunt LLP as its new joint UK corporate brokers. This shows that more and more people are interested in the Nigerian energy company and that its shares are becoming more active.
In a filing to the Nigerian Exchange, the company announced the appointment and said that the two firms would work with Citigroup Global Markets Limited, Seplat’s current UK adviser. The deal gives the company more access to European capital markets at a time when foreign investors are starting to pay more attention to Nigeria’s energy sector.
Canaccord Genuity is a Canadian investment bank with a strong presence in London, Paris, and Dublin. It has experience with cross-border deals. Peel Hunt is a UK-based brokerage with strong ties to institutional investors. Both companies are expected to help Seplat with its market strategy, raising capital, and dealing with investors.
Trading volumes climb on dual listings
There has been a clear increase in trading activity for Seplat shares on both its London and Lagos listings, which is why the broker appointments were made.
In early January, trading on the London Stock Exchange reached over 1.1 million shares, which was close to the full month total of about 1.5 million shares in December. This month, more than 1.8 million shares have already changed hands in Lagos, which is close to the 2 million shares that changed hands in December.
Market data also shows that prices have gone up a lot. Seplat has gone up more than six percent on the Nigerian Exchange this month. The stock rose more than eleven percent in the first week of trading in London in January.
