Allan Gray ups stake in Nigeria’s Seplat by 7.3%


South Africa’s fund manager and investment company, Allan Gray, has increased its stake in SEPLAT Petroleum Development Co Plc.

The share purchase was contained in a regulatory filing submitted by SEPLAT Petroleum Development Co Plc to the London Stock Exchange.

Prior to the stake increase, Allan Gray through its Allan Gray Africa EX-SA Equity Fund Limited had 16.3 million units of shares in the oil major. The stake has been increased to 17.5 million.

Seplat Petroleum Development Company Plc is an indigenous Nigerian oil and gas exploration and production company with a strategic focus on Nigeria, listed on the Main Market of the London Stock Exchange (“LSE”) (LSE:SEPL) and Nigerian Stock Exchange (“NSE”) (NSE:SEPLAT).

Allan Gray is a privately owned investment manager in Africa. We manage US$35 billion in client assets in a range of equity, fixed interest and multi-asset mandates across Africa.

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