Global Spectrum Energy Services Plc an integrated Oil & Gas Offshore Support Vessel Services Company, has received regulatory approval to list its shares on the Nigerian Stock Exchange (NSE), paving the way for investors iGloba;n the company to trade their shares on the secondary market.
The Nigerian Stock Exchange (NSE) on Monday, November 27, 2017, listed by introduction, eight hundred million ordinary shares of the firm at N5 Per Share on its Main Board.
This listing added four billion naira to the market capitalization of the Exchange, further deepening the Nigerian capital market. To commemorate the listing, the Board and Executive Management of Global Spectrum Energy Services led by its Chairman, Dr. Engr. Godwin Omene, were honoured with a Closing Gong ceremony to officially close trading on the bourse for the day.
In his welcome remarks, the CEO of the NSE, Oscar N. Onyema, OON, congratulated Global Spectrum Energy Services Plc for taking the strategic step to join the Main Board of the Exchange and the prestigious club of quoted companies in Nigeria. “This step indicates the firm’s belief that our platform remains a veritable avenue for raising capital and enabling sustainable national growth. I commend Global Spectrum for this bold and strategic step. Your listing on the NSE today will not only showcase Global Spectrum as an established player in the downstream sector, but will enable the firm better position itself towards the actualization of its strategic vision of becoming a leading Oil & Gas offshore support services company”.
“Today’s listing is a promising development in the country’s downstream sector and we encourage more local players to explore the different opportunities in the capital markets for raising long term capital. We believe that increased participation of domestic energy companies in the capital markets will increase investors’ confidence (both local and international) and entrench good corporate governance, transparency and sustainability in the downstream sector”, Onyema added.