SEPLAT Energy Plc records a market value loss of N18billion

SEPLAT Energy Plc records a market value loss of N18billion

Seplat Energy Petroleum Development Firm (SEPLAT) is a Nigerian independent oil and gas company with a strategic concentration in the Niger Delta. It is traded on both the London and Nigerian Stock Exchanges.

In addition to its oil operations, the Company has begun to commercialize, develop, and monetize the significant gas deposits found in its blocks. SEPLAT was quick to recognize the opportunity presented by natural gas's growing importance as a major source of energy in Nigeria.

Seplat Energy Plc's share price fell 3.03 percent to N960 per share at the end of yesterday's trading session, bringing the company's market capitalization to N564.91 billion.

The petroleum energy company saw a drop in share prices due to unfavorable market sentiment, which spurred sell-offs that dragged the company's value down by 303 basis points.

As a result, sell-pressure in the company's shares resulted in a market capitalization loss of N17.65 billion at the close of trading on Nigeria's stock exchange.

The stated company's shares fell from N990.00 per share at the start of the trading day to N960.00 per share at the closure of the market, a drop of 3.03 percent or N0.30 in monetary terms.

Profit-taking in Seplat Energy Plc's shares caused the company's market capitalization to fall from N582.56 billion to N564.91 billion at the end of the day's trading activity, resulting in a loss of N17.65 billion.

The company's stock has increased 47.69 percent year to year, starting the year at N650.00 and now trading at N960.00. The company's stock is currently trading at N1,034.00, down 7.16 percent from its 52-week high. Investors who acquired the company's shares at their 52-week low trading price of N545.00 per share have made a profit of around 76.15 percent.

In 51 conducted deals during the day's trading hours, 552,626 ordinary shares of Seplat Energy Plc worth N531.29 million were exchanged.

The NGX All-Share Index and market capitalization both fell 0.19 percent from the previous trading day to settle at 47,340.86 index points and N25.51 trillion, respectively, at the end of the day's trading activities.