Initial Public Offering on the Nigerian Stock Exchange and London Stock Exchange 2014
Vetiva acted as Co-Lead Manager on the US$500m IPO and dual listing (on both the Nigerian and London Stock Exchanges) of Seplat Petroleum Development Company PLC (“Seplat”), a leading independent indigenous oil & gas exploration and production company in Nigeria.
This landmark transaction represents the first dual listing of any company on both the London Stock Exchange and Nigerian Stock Exchange and was also the largest IPO originating out of Sub-Saharan Africa since 2008
Vetiva took a very proactive role in the dissemination of Seplat’s equity story, with our research analysts and sales force presenting detailed research report to a wide pool of investors across key geographies.
Leveraging on our unique domestic distribution prowess, Vetiva embarked on an extensive marketing campaign in Nigeria, following which a vast majority of local PFAs, institutional investors and HNIs chased the IPO with sizeable orders. More than two-thirds of orders and about half of the final order book represented Nigerian investors.
Building on the strong marketing efforts, Vetiva engaged with a wide universe of potential investors in the IPO and converted most of them into real orders when the book was opened.