Tony Elumelu, a Non-Executive Manual of the Firm.”
The additional obtain represents approximately 1% of Seplat’s issued shares, increasing the united holding of the two Heirs entities from on 20.07% to 21.07% and strengthening Elumelu’s perspective as the business’s largest shareholder.
The 1% acquisition charge the billionaire around $70 million or N94 billion per Nairametrics estimates.
Seplat rally lifts stake valuation
Seplat Energy’s offer charge has risen sharply in recent months, increasing the advertise value of Elumelu’s investment in the organization.
Based on the opening and closing prices supplied for September, the stock gained regarding 21.6% during the month.
- The stock opened September at N13,155 per supply and closed at N16,000 per provide, representing an broaden of N2,845 over the month and extending its rally during the third quarter.
- Seplat is at the moment trading at its all-time high.
- At the stated closing charge of N16,000 per provide, the united holding of 126.4 million shares controlled by Elumelu would have a promote value of approximately N2.02 trillion.
- Elumelu Heirs Holdings initially acquired the stake previously held by French oil and gas firm Maurel & Prom, establishing the Heirs entities’ considerable shareholding in Seplat ahead of the newest purchase of an additional 6 million shares.
The current acquisition consequently adds to an investment whose advertise value has benefited from the rise in Seplat’s communicate charge, alongside the expand in the quantity of shares held.
Seplat prepares for Elumelu chairmanship
Elumelu is expected to suppose the place of Seplat chairman in January 2027, following the organization’s message of a planned management transition in June.
The changes conceal both the director executive and chairman positions, alongside Seplat seeking to situation continuity in outline, governance and execution as it prepares for its following phase of growth.
- Roger Brown retired as director executive officer and a board director on July 31, 2026, once 13 years together with the business, including the endure six years as CEO.
- The board appointed Engr. Effiong Okon as principal executive officer and executive director using effect from August 1, 2026, succeeding Brown under the orientation transition.
- Chairman Senator Udoma Udo Udoma will retire on December 31, 2026, having overseen the winning integration of MPNU and the articulation of Seplat Energy’s 2030 strategic scheme seeing that becoming free chairman in April 2024.
Elumelu’s expanding investment in Seplat adds to his vast firm interests across banking, insurance, hospitality, appraisal announce, power, and technology.
Seplat Energy states that its portfolio consists of 11 PMLs, 17 PPLs, and 5 OMLs in onshore and surface-degree water locations in the Niger Delta region of Nigeria.
Nigerian billionaire Tony Elumelu has acquired an added 6 million shares in Seplat Energy Plc throughout Heirs Energies Tight, taking the integrated stake held by entities he controls to 21.07%.
This is according to a corporate disclosure published on the Nigerian Exchange site.
The additional obtain brings the joined shareholding of Heirs Energies Restricted and Heirs Holdings Limited to 126.4 million shares.
Heirs entities increase Seplat shareholding
The disclosure stated that Heirs Energies Tight purchased the additional shares, increasing its holding in Seplat to 27,943,867 shares.
The purchase expands the joined shareholding of the two entities controlled by Elumelu, who is a non-executive administrator of the energy organization.
- “The Enterprise was notified of the obtain of 6,000,000 usual shares by Heirs Energies Ltd, a enterprise controlled by Mr. It operates the oil assets using partners including the Nigerian Government and other producers.
Source: Tony Elumelu expands Seplat stake to 21.07%, now worth $1.5 billion
