It appears Seplat is all set to list its shares on the floor of the Nigerian Stock Exchange as well as the London Stock Exchange. The company is basically listing on the main board of the LSE, a major achievement for a Nigerian company. Below is the indicative time table from a reliable source;
Draft Prospectus to be out 21st March, 2014
Price range announcement, books open 21st March, 2014
Book Close 2nd April, 2014
Pricing 2nd April, 2014
Allocations out 3rd April, 2014
NSE (T+3) 7th April, 2014
According to reports there will be no caps on how much stock will be available on NSE and LSE and will be subject to final allocations.
The Offer will be open to High Networth Individuals (HNIs) and Qualified Institutional investors. The SEC rule defines HNIs as having at least N300 million in net worth, excluding houses, cars and furniture.
Minimum order from qualified HNI – $100,000 (equivalent in naira at current exchange rate) Minimum order from qualified institutional investor – $250,000 (equivalent in naira at current exchange rate).
More to come..