Africa Oilfield Logistics Ltd. (AIM: AOL), the AIM-listed African-focused support services and logistics company, intends to dual list on the Growth Enterprise Market Segment (GEMS) of the Nairobi Securities Exchange (the Kenyan Listing), by way of an introduction and private placing of up to 10% of the company's enlarged share capital, such private placing being offered solely in Kenya.
Completion of the Kenyan Listing will make Africa Oilfield the first AIM-listed company to join the Kenyan exchange, and this marks a further step in the company's development as it looks to expand its existing support services business in East Africa.
Africa Oilfield CEO Carl Esprey said that the company is working for a number of international companies operating in the East African region. “Our proposed dual listing on the Nairobi Securities Exchange is a further exciting step forward and one that will establish the company as a pioneer in this area,” he noted. “We expect that, by taking this opportunity, we will further align the company with the strong regional growth currently ongoing and demonstrate in a tangible way our commitment to operating in both Kenya and the East African region as a whole. We hope that shareholders will share this vision and support the resolutions being proposed at the meeting to be held on Nov. 5.”