Seplat Energy Plc (SEPL) jumped more than 10% on the London Stock Exchange mid-trading on 31st December 2025, reaching 284 pence.
The stock, which opened at 266.5 pence, has seen over 138,000 shares trade hands as investors respond to a major ownership development.
Market sources reveal that Heirs Energies has acquired a 20% stake in Seplat Energy for $500 million, making it the company’s single largest shareholder.
Under the agreement, French oil and gas company Maurel & Prom (M&P) sold its entire 20.07% holding in Seplat to Heirs Energies Ltd for a total consideration of $496 million.
M&P disclosed on 31 December 2025 that 120.4 million shares were sold at 305 pence each, a premium to the current market price, a move likely driving today’s market reaction.
What the charts are saying
According to broker data, Seplat Energy Plc (SEPL), listed on the London Stock Exchange, is currently trading at 284 pence, and could close above the 280 pence level if the current momentum continues.
Market activity has surged, with over 138,000 shares changing hands, compared to just 36,000 shares traded during the entire session on 30 December 2025.
The stock began the year at 199 pence, gaining 3.08% in January. However, negative price action in February and March pushed it down to 173 pence.
The second quarter saw a strong recovery, with a 34.87% gain, closing H1 at 234 pence.
So far in H2, SEPL has risen over 20%, giving it a year-to-date gain of more than 45%, as it trades above the 280-pence level on the back of the recent acquisition news.
Meanwhile, SEPLAT shares on the Nigerian Exchange (NGX) are yet to react.
What to know
The deal involves an upfront payment of $248 million, with the remaining balance due within 30 days, secured by an irrevocable letter of credit.
- An additional $10 million in contingent consideration may be payable depending on Seplat’s share price performance over the next six months.
- The buyer, Heirs Energies, is a subsidiary of Heirs Holdings, a pan-African investment company known for long-term strategic investments across sectors.
- This transaction marks a major shift in Seplat’s ownership structure and reflects broader changes in Nigeria’s energy investment landscape.
Comments
The deal has attracted attention from key stakeholders, highlighting its importance for Seplat’s ownership and the broader Nigerian energy sector.
Tony Elumelu, Chairman of Heirs Energies, described the deal as “a long-term investment in Nigeria’s and Africa’s energy future, supporting Seplat’s continued growth and value creation for all stakeholders.”
Olivier de Langavant, CEO of Maurel & Prom, noted their role in Seplat’s development, saying “we are proud to have supported Seplat’s journey over the last fifteen years and its transformation into a leading energy company in Nigeria.”
The deal effectively positions the group as one of the largest integrated energy companies in Africa.
