Seplat Energy shares rise as Tony Elumelu increases stake

Tony Elumelu has increased his stake in Seplat Energy Plc by purchasing 6,000,000 shares at an average price of GBX 887 per share. This transaction, totaling approximately £53.22 million, brings his ownership to roughly 21.07%.

Concurrently, the rising share prices of Seplat Energy and Aradel Holdings Plc significantly increased the net worth of Beninese billionaire Samuel Dossou-Aworet. His combined holdings in both companies grew by $430 million during the third quarter, reaching a total value of $1.59 billion.

Seplat’s growth was largely driven by a 40.8% increase in its stock price during the quarter, supported by strong financial results including a 74.1% rise in first-half pre-tax profit. The company’s market value reached approximately N9.6 trillion, making it the sixth most valuable company on the Nigerian Exchange.