Spectrum Energy Services to List Shares on NSE
The Nigerian Stock Exchange (NSE) will on Monday list the shares of Global Spectrum Energy Services (GSES) Plc, an integrated marine and oil and gas services firm. The listing follows the approval given by the Council of the NSE.
The entire 800 million issued and fully paid up ordinary shares of 50kobo each of the company will be listed thereby offering good investment opportunity to discerning investors.
The admission of the company into the official list of the Exchange, which is through a process of listing by Introduction on the main board, will further deepen the stock market as well as open the flood gate for the general public to participate in the ownership of the company as the shares become tradable on the exchange.
According to the company, the listing of GSES is a major fit that makes a strong statement on the strength of the company to have been granted the approval given the very tough conditions that have to be met in line with the rules of the Exchange.
The company noted that it became imperative for GSES to seek listing in view of its rather ambitious expansion plans which derives from very huge untapped opportunities in its very specialized area of operation.
In the short to medium term, the company said it has a well-laid down plan to expand its business in to the areas where it has already made significant initial investments. The areas of focus include gas production, establishment of steel plant for the production of pipes and allied products, as well the establishment of a lube plant for lubricants.
GSES has since it commenced operations in 2009 maintained a continuous stream of profitability having not recorded any loss over the entire period. It also noted that the company caries no debt liabilities, as it has been able to fund its operations with revenue from its operations.
GSES was incorporated 2006 as a Private Limited Company. It commenced operations in 2009. The companyâ€™s range of services covers complimentary maritime security, logistics, energy and engineering services.
The company combines its strategic operations with skilled personnel who bring in valuable operational experience and success into its operations.
According to the company, continuous attention to these values have led to long-term client relationships, which have been vital to its successful operations in the past, and will prove rewarding in its activities in the future.