Charles Abuede The local bourse continued in its staggering movement on Wednesday due to selling pressures in MTN Nigeria (-2.9%), Access Bank (-3.6%), and Stanbic IBTC (-1.0%) which dragged the All-Share Index lower by 0.57 per cent to settle at 39,045.13 points. As a result, the market year to date loss worsened to -3.0 per […]
By Taofik Salako, Deputy Group Business Editor Seplat Petroleum Development Company Plc has launched a process to raise new debt capital from the international capital market to enable it debts and finance corporate growth plan. In a regulatory filing, Seplat, which is quoted on the London Stock Exchange (LSE) and Nigerian Stock Exchange (NSE), stated […]
Seplat Petroleum Development Company Plc, a Nigerian independent energy company, said on Sunday that it had priced its offering of $650m in aggregate principal amount of senior notes due 2026. It said the notes priced at a yield of 7.75 per cent, represented a significant pricing reduction from its $350m debut issuance in 2018, which […]
Charles Abuede Seplat Petroleum Development Company Plc, Nigeria’s leading indigenous energy company, has announced the successful refinancing of its wholly-owned subsidiary, Westport Oil Limited, in the tune of $100 million for its reserve-based lending (RBL) facility that was due November 2023 with a new five-year $100 million reserve-based lending facility due March 2026. Seplat in […]
Charles Abuede The mood in the market was mildly negative on Wednesday, underpinned by sell pressures in the banking space. Retreating from Tuesday’s gains, the local bourse finished the day slightly lower, indicating a 0.04 per cent drop in the NSE-ASI to 38,706.13 points following sell-offs across GUARANTY (-1.8%), FBNH (-1.4%), and MANSARD (-5.1%). Accordingly, […]
Charles Abuede The equities market remains depressed in the first trading sessions of the week as selloffs across top counters persist due to price depreciation in GTBank (-2.6%), Nigerian Breweries (-5.3%) and International Breweries (-3.8%) which dragged down the benchmark index by 0.22 per cent to 38,561.84 points. Consequently, the market year to date loss […]
Thursday, February 18, 2021 /04:40 AM / By Proshare Research/ Header Image Credit: EcoGraphics Proshare Nigeria Pvt. Ltd. The Oil and Gas sector suffered a twin hit in 2020. Plunging oil demand brought about by the COVID-19 and the price war between Russia and Saudi Arabia further worsened the financial position of an already vulnerable […]
By Charles Abuede Naira trades flat at I&E, CBN official windows Read Also: The Nigerian equities market continues its staggering movement on the back of mixed sentiment as investors anticipate the release of audited company financials due to start hitting the market before the end of the month. Despite some hints of gains, the bears […]
Image: YouTube Following the one-billion-dollar acquisition of OML 17from Shell last month, Heirs Oil & Gas Ltd. has pledged to boost production from the onshore block to 100,000 barrels per day (bpd). Success in achieving the production target would not only restore the block to its peak production level, but also make Heirs Oil & […]
’Femi Asu Investors in the nation’s stock market gained N60bn on Monday as Seplat Petroleum Development Company Plc and 30 other firms recorded price appreciation. The Nigerian Stock Exchange All-Share Index rose by 0.33 per cent to close at 40,571.67 basis points on Monday from 40,439.85bps on Friday. The market capitalisation of listed equities increased […]
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