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Seplat shares up 5 pct in Lagos after $500 mln IPO debut

Reuters - UK Focus

LAGOS, April 14 (Reuters) - Nigerian oil and gas firm Seplat listed its shares on the Lagos bourse on Monday, with the shares bid at 604.8 naira ($3.76) each, up from its offer price of 576 naira, after its debut $500 million IPO last week, broker said.

Seplat shares also started unconditional trading in London on Monday. They rose almost 1 percent to 2.21 pounds ($3.70).

Dealers said the IPO subscription was split equally between domestic pension funds and fund managers from mainly Britain and the United States.

($1 = 160.9000 Nigerian Nairas) ($1 = 0.5980 British Pounds) (Reporting by Chijioke Ohuocha; Editing by Tim Cocks and Keiron Henderson)