CAVERTON LISTS ON THE NIGERIAN STOCK EXCHANGE





Caverton offshore support group was on Tuesday listed on the Nigerian stock exchange. 3.3 billion Ordinary shares at 9.50 Naira each were listed. This values the company at 31.8 billion Naira ($195.2 million).

While speaking with CNBC Africa, the company’s CEO, Olabode Makanjuola reaffirmed the Company’s commitment to be a major player on the continent. He said the company has some ‘announcables’ in the offing and that Caverton has long term contracts extending till 2020. He also stated that the company is in tender for 4 contracts in the aviation services and 3 in marine services.

Caverton’s profit after tax for 2013 was 1.87 billion Naira ($11.5 million), which was a 37% increase from the preceding year.

Caverton is a provider of marine, aviation and logistics services to local and international oil and gas companies in Nigeria.

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