The London Stock Exchange, one of the world’s most capitalized stock exchanges, has recognized Nigerian businessman and leading energy magnate Ambrosie Bryant Orjiako for his many achievements at the helm of Seplat Energy over the years.
The LSE’s announcement comes a few weeks after the businessman retired as chairman of Seplat Energy Plc after 13 years of building the leading energy company into one of Africa’s largest.
LSE CEO Julia Hogget stated: “I have had the opportunity to meet members in person on occasion, but this is really the first opportunity.” Not all of us, but many of us, have come to celebrate this important occasion and to recognize the many accomplishments that you (ABC Orjiako) have had in your career.”
Hogget recalled that Seplat was the first Nigerian company to list ordinary shares simultaneously on the LSE and the Nigerian Exchange during Orjiako’s 13-year tenure as CEO. At the time of its IPO, the group raised $535 million from the offering, which was both oversubscribed and ranked as one of the largest in Nigeria.
Orjiako, who co-founded Seplat Energy with Austin Avuru in 2009 through the collaboration of Shebah Petroleum Development Company and Platform Petroleum Joint Ventures, is credited with turning Seplat into one of Nigeria’s most successful indigenous oil and gas companies.
Since its inception more than a decade ago, Seplat has grown into the largest listed energy group on the Nigerian Exchange, with a market capitalization of N588.44 billion ($1.42 billion), while Orjaiko’s 6.43-percent equity stake in the energy group is valued at N37.84 billion ($91.1 million).
In response to Hogget’s remark, Orjiako stated that it is the generosity of the LSE and LSEG’s Africa Advisory Group that has allowed Seplat to be where it is today, and that the company’s IPO in 2014 was one of the highlights of his career.
“It is not an easy thing to ring the opening bell of the LSE; for me to use this to mark my exit as chairman of Seplat brings back very old memories, beginning in 2014 when we first rang the bell to list our security in this market,” he said.
“One of the things that makes me happy is that when we rang the bell, everything on the board turned green; this is very important for us in Seplat. The color green not only represents good market performance, but it is also a very important symbol in Seplat,” he added.
