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SEPLAT Petroleum Development ( (GB:SEPL) ) has provided an update.
Seplat Energy Plc announced the issuance and admission of 11.5 million new ordinary shares following approvals from the Nigerian Corporate Affairs Commission and the Securities and Exchange Commission. These shares will be listed on both the Nigerian Exchange Limited and the London Stock Exchange, increasing the company’s issued share capital to 599,944,561 ordinary shares. This move is part of the company’s strategy to enhance its long-term incentive plan for employees and strengthen its market presence.
The most recent analyst rating on (GB:SEPL) stock is a Buy with a £456.00 price target. To see the full list of analyst forecasts on SEPLAT Petroleum Development stock, see the GB:SEPL Stock Forecast page.
Spark’s Take on GB:SEPL Stock
According to Spark, TipRanks’ AI Analyst, GB:SEPL is a Outperform.
SEPLAT Petroleum Development has demonstrated strong financial and operational performance, driven by robust revenue growth and efficient cash flow management. Technical indicators suggest positive momentum, although caution is warranted due to potential short-term overbought conditions. The company’s valuation is reasonable, and recent corporate events highlight strategic growth and stability, contributing to a positive outlook.
To see Spark’s full report on GB:SEPL stock, click here.
More about SEPLAT Petroleum Development
Seplat Energy Plc is Nigeria’s leading indigenous energy company, listed on the Premium Board of the Nigerian Exchange Limited and the Main Market of the London Stock Exchange. The company focuses on delivering affordable, reliable, and sustainable energy, driving social and economic prosperity. Its portfolio includes eleven oil and gas blocks in Nigeria’s Niger Delta region, operated in partnership with the Nigerian Government and other producers. Seplat Energy also operates several gas processing plants and export terminals, positioning it as a leading supplier of natural gas to the domestic power generation market.
Average Trading Volume: 212,247
Technical Sentiment Signal: Buy
Current Market Cap: £1.43B
For detailed information about SEPL stock, go to TipRanks’ Stock Analysis page.