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More Dual Listing On The Way – Onyema

After the successful listing of shares of Seplat Petroleum Development Company Plc on the London Stock Exchange (LSE) and the Nigerian Stock Exchange (NSE) in 2014, more companies in the downstream oil & gas Exploration and Production (E&P) sector have indicated interest to follow suit.

The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, made the disclosure at NSE/LSEG dual listing conference in Lagos.

He said there has been expression of interest from companies with less representation on the Exchange, especially the Telco’s and utility firms.

Seplat was the first indigenous Nigerian company to dual list its ordinary shares in London and Nigeria after an Initial Public Offering (IPO) that raised as much as $500 million, an equivalent of N82.5 billion, thereby valuing the company at $1.9 billion.

Onyema said that many more companies have been eager to replicate the success story, but have halted announcement because of the global shock from the falling price of commodity in recent months.