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London Stock Exchange

IPO For Nigeria-based Seplat Valued At $1.9 Billion

Nigerian oil and gas firm Seplat Petroleum Development Company PLC on Wednesday priced its initial public offering for a listing on the London Stock Exchange of 210 pence per share ($1.67). The company will be listing in Nigeria as well, and will be the first to have a dual Nigeria/U.K. listing. Based on the offer price, the total market capitalization of Seplat is roughly $1.91 billion. The company produces around 60,000 barrels of oil a day from three oil blocks it purchased from Royal Dutch Shell PLC back in 2010, The Wall Street Journal reported.Copyright © 2014 MarketWatch, Inc....

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