Tony Elumelu’s stake in Seplat added N311.5 billion in two weeks, now worth N1.79 trillion
The value of Tony O. Elumelu’s stake in Seplat Energy Plc has increased by approximately N311.5 billion in just over two weeks, following a sharp rise in the energy company’s share price on the Nigerian Exchange Limited (NGX). The post Tony Elumelu’s stake in Seplat added N311.5 billion in two weeks, now worth N1.79 trillion appeared first on Nairametrics .
In the span of two weeks, Tony O. Elumelu's stake in Seplat Energy Plc has seen a significant increase, now valued at approximately N1.79 trillion, up from N1.48 trillion. This value surge stems from a sharp rise in Seplat's share price on the Nigerian Exchange Limited, soaring from N12,320.60 to N14,907.80. Elumelu, through Heirs Energies Ltd and Heirs Holdings Ltd, indirectly owns 120.4 million Seplat shares, representing 20.07% of the company.
This substantial position has grown to N1.79 trillion from around N1.37 trillion at the end of June, bolstered by stronger earnings, increased production, and dividend payments. The interim dividend of N165.50 per share, consisting of N68.96 from core and N96.54 from special dividends, adds another N19.92 billion to Elumelu's gross entitlement.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
