Prime Business AfricaThe first half (H1) of 2025 was not a good period for oil and gas investor, Augustine Avuru, as the value of his investment in Seplat Energy dropped by 4.38 percent.
Prime Business Africa notes that Avuru is the fourth majority shareholder in Seplat, behind Maurel & Prom Group, Petrolin Group, and Sustainable Capital, according to the company’s financial statements.
Join our WhatsApp ChannelAvuru holds 50.01 million shares through Professional Support Limited in Seplat, representing an 8.50 percent stake, which was valued at N272.60 billion by June 30, lower than the N285.10 billion they were valued at the start of the year.
The decline in Avuru’s investment indicates the investor from Delta state lost N12.50 billion within six months, or N83.36 million every day within the same period, according to analysis by Prime Business Africa.
PBA gathered that Avuru’s investment value depreciated due to Seplat’s share price plummeting to N5,450 on June 30, from the N5,700 the company’s share was sold as of January 2.
The cost of buying Seplat’s share dropped by N250 in the first half, indicating demand for the company’s shares in the Nigerian bourse dropped during the period under review.
This resulted in a combined loss of N147.11 billion between January and June for all shareholders of Seplat, with Avuru accounting for 8.5 percent (N12.50 billion) of the loss.
Also, the loss affected Seplat’s market capitalisation, as the company’s valuation in the stock market dropped from N3.35 trillion to N3.20 trillion within the period under review.
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