Seplat Energy Plc has named Canaccord Genuity Limited and Peel Hunt LLP as its new joint UK Corporate Brokers, according to a disclosure filed on the Nigerian Exchange (NGX).
In this role, both firms will work alongside British investment banking and capital markets firm, Citigroup Global Markets Limited.
This development comes shortly after Heirs Energies acquired a 20% stake in Seplat from French oil company Maurel & Prom, a deal that triggered a spike in trading activity and heightened investor interest.
What the data is saying
According to broker data and trading volume reports, Seplat Energy shares have seen an increase in activity across both exchanges.
- On the London Stock Exchange, trading volumes in early January have reached over 1.1 million shares, nearing the 1.5 million shares traded during the entire December 2024.
- On the Nigerian Exchange, over 1.8 million shares have been exchanged so far in January, nearing the 2 million shares recorded in December.
During this period, Seplat has gained 6.23% month-to-date on the NGX, after it rose 11.26% on the LSE in the first trading week of January 2026, following the stake sale deal, which was completed at a premium of 305 pence per share.
More on the story
The new joint brokers—Canaccord Genuity and Peel Hunt—bring significant European investment banking experience to Seplat’s team.
Canadian firm Canaccord operates across London, Paris, Dublin, and other key financial centres, while Peel Hunt is a UK-based investment bank and broker registered in England and Wales.
Their appointment comes as investor sentiment around Seplat strengthens, likely fueled by confidence in the company’s strategic direction and Nigeria’s improving energy sector outlook.
On January 7th, 2026, Seplat shares rallied by 10% on the NGX, trading over 566,000 units and reaching a price of N6,171.0.
In December 2025, analysts at Zedcrest had set a bullish target of N8,049.46 for the stock, implying a 38.6% upside from its reference price of N5,809, based on NAV and DCF models.
What you should know
The 20% stake acquired by Heirs Energies from Maurel & Prom included 120.4 million shares sold at a premium of 305 pence.
- Analysts at Zedcrest also maintained a BUY rating on Aradel Holdings, forecasting a 17% upside to N798.35 per share as part of its 2026 outlook.
- Nigeria’s crude oil theft hit a 16‑year low, while production recovery and key gas infrastructure like the Ajaokuta‑Kaduna‑Kano (AKK) Gas Pipeline and the Assa North‑Ohaji South (ANOH) gas processing plant are boosting sector sentiment.
