***Court sets date to rule on order stopping Roger Brown as CEO of SEPLAT
In a rare move, Seplat Energy Plc. lost 10% of its market value in the equities market as investors exited positions in the energy company stock.
Roger Brown, CEO of SEPLAT
The price depreciation recorded by the market moving energy stock reflected negative sentiment some investors had over the company in the short term ahead of the second quarter of 2025 earnings.
Analysts said the negative share price movement reduced Seplat Energy Plc.’s market value by about N325 billion in a single day trading session, though volume was considered tiny.
According to data obtained from the Nigerian Exchange, the share price of the company plunged sharply as 112,245 shares valued at N557.229 million were traded on the trading platform.
The company share price declined by N551.60 to close at N4964.4 on Thursday. This reduced the market value of its 588,444,561 shares outstanding to N2.921 trillion on the Nigerian Exchange. This dragged the oil and gas index downward in the local bourse.
Seplat is now trading at 13.48% discount to its 52-week high on the Nigerian Exchange.
Source: dmarketforces
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