30 November 2017, Sweetcrude, Lagos – The Nigerian Stock Exchange, NSE, has listed by introduction, 800,000,000 ordinary shares of Global Spectrum Energy Services Plc at N5 per share on its main board.
Global Spectrum Energy Services Plc is an integrated offshore oil and gas support vessel services company operating in some oil and gas producing areas in West Africa.
The listing added N4 billion to the market capitalisation of the Exchange, further deepening the Nigerian capital market.
To commemorate the listing, the board and 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, congratulated Global Spectrum Energy Services Plc for taking the strategic step to join the main board of the Exchange and quoted companies in Nigeria.
“This step indicate 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.