Nigerian energy mogul Austin Avuru, co-founder and former CEO of Seplat Energy Plc, has seen the market value of his stake in the company surpass $200 million, following a steady rise in Seplat’s share price on the Nigerian Exchange (NGX).
Avuru holds 50.02 million shares in Seplat, valued at about N295.97 billion ($202.45 million), a gain of N26.91 billion ($18.4 million) over the past nine trading days.
Seplat, which Avuru co-founded in 2009 with Ambrosie Orjiako, is one of Africa’s leading independent oil and gas producers, with listings on both the Nigerian Exchange and the London Stock Exchange.
The company’s recent rally pushed its market capitalization to around $2.4 billion, strengthening its position as Nigeria’s most valuable listed energy firm.
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