Seplat caught in the middle of shaky IOC exits

  • The past weeks have been a rollercoaster for Seplat as Mobil acquisition was approved and then rescinded

  • No clarity on how the regulatory tussle could end, but Seplat is clearly better for the job vs NNPC

  • If unsuccessful, this could warrant correction in NGN (Hold). But our valuation shows significant upside in GBP – Buy
August 24th, 2022
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