- Global Spectrum Energy Services to List N4b Shares on NSE
Global Spectrum Energy Services Plc, an indigenous oil and gas services company, has received regulatory approval to list its shares on the Nigerian Stock Exchange (NSE), paving the way for investors in the company to trade their shares on the secondary market.
Global Spectrum Energy Services will list its total outstanding issued share capital of 800 million ordinary shares of 50 kobo each at N5 per share. The shares will be listed by way of introduction. The listing will add N4 billion to the total market capitalisation at the Exchange and further deepen the exposure of the market to the midstream and upstream oil and gas sectors.
The management of the NSE has approved the listing of the company through the special window of listing by introduction, which allows companies without previous initial public offerings to list their shares while retaining opportunity to float initial public offering (IPO).
Global Spectrum Energy Services was incorporated in 2006 as an integrated oil and gas servicing company. The company’s operations span many oil and gas producing areas in West Africa.
The company’s services include complimentary maritime security, logistics, energy and engineering services.