Nigeria’s Seplat starts trading

Nigerian oil company Seplat started unconditional dealings on the stock exchanges in London and Lagos yesterday, having raised £300.9m in its initial public offering. The firm, which is one of the largest indigenous independent oil and gas operators in Nigeria, started conditional dealing last week. It plans to use part of the proceeds to buy up more oil and gas assets in the country. The deal is London’s largest oil industry float in several years.