BREAKING: Tony Elumelu raises Seplat stake
Heirs Energies, the energy investment company of Tony Elumelu, has acquired an additional 1% stake in Seplat Energy Plc at the cost of about $70 million (N94 billion), bringing the total shareholding of the Heirs Holdings Group in the oil and gas company to 21.07%. It will be recalled that Elumelu is taking over as […] The post BREAKING: Tony Elumelu raises Seplat stake appeared first on…
Nigerian billionaire Tony Elumelu has increased his stake in Seplat Energy Plc by acquiring an additional 6 million shares, bringing his combined stake to 21.07%. This information was published on the Nigerian Exchange website. Heirs Energies Limited and Heirs Holdings Limited, both entities controlled by Elumelu, now hold a combined 126.4 million shares in Seplat.
The additional purchase accounts for approximately 1% of Seplat's issued shares, increasing the combined holding of the two Heirs entities from 20.07% to 21.07%. The billionaire's investment in the energy company has been bolstered by the rise in Seplat's share price, which gained approximately 21.6% during the month. This acquisition adds to an investment whose market value has benefited from the increase in Seplat's share price, alongside the boost in the number of shares held by Elumelu.
Elumelu is expected to become Seplat's chairman in January 2027. The company's portfolio includes 11 PMLs, 17 PPLs, and 5 OMLs in onshore and shallow water locations in Nigeria's Niger Delta region, with Seplat operating the assets alongside partners such as the Nigerian Government.
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- Tony Elumelu expands Seplat stake to 21.07%, now worth $1.5 billion nairametrics.com
