GSES, an Integrated Marine Oil & Gas Company listed today as a Public Company on the Main Board of the Nigeria Stock Exchange. The Company has listed 800m ordinary shares offered at 50k each for ₦5 per share of subscription to investors. During a facts behind the listing today at the Nigeria Stock Exchange that featured Acting Head, Capital Markets Division, Tony Ibeziako, CEO of the NSE, Oscar Onyema, Chairman of Global Spectrum Energy Services Limited, Godwin Omene, CEO of GSES, Colm Doyle, the management of the Company talked about its listing on the Equity Capital Markets to raise funds as a means to expand into gas production, establishment of a steel plant for the production of pipes and allied products as well as establishment of a Lube Plant for Lubricants.
The management says part of its appeal to investors is the fact that since its establishment 8 years ago in 2009, it has not recorded a loss and has zero debts on its balance sheet as it has been able to fund its capital projects from profit re-investments. It maintained that its approval to join the main board given the rigorous conditions it had to meet had to meet based on the rules and regulations of the Nigeria Stock Exchange gives credence to its corporate governance structure and fitness and effectively manage capital. In a statement pre-listing it said “Global Spectrum combines its strategic operations with skilled personnel who bring invaluable operational experience and success into 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.”
The Company Stock will be open for trading on Tuesday 28th November 2017 when the main bourse opens at 9am GMT and will be represented by the ticker symbol GSES