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Karl Stagno-Navarra
Medserv Malta plc started to trade on the Malta Stock Exchange yesterday, following its successful offering last week.
The Malta Stock Exchange yesterday registered three trades for Medserv Malta plc that confirmed its issue price at Lm1.30 per share. No less than 52,500 shares, valued at Lm68,250 exchanged hands on the first day of trading of this new equity.
With Lm3.25 million injected into Medserv capital through a share offer that was over-subscribed in just under half an hour last week, the company is set to strengthen its oil and gas industry services in the Mediterranean, however it is not excluding the possibility of diversifying its services to transboard of container TEUs and warehousing.
Though totally focused on serving the growing business in the oil and gas sector, company chairman Anthony Diacono did not exclude diversifying into TEU handling, warehousing and ro-ro vessel operations, adding that it would be a decision that would eventually be taken by the board of directors.
With the Mediterranean region becoming a very important base for the oil and gas industry, given a new reality where Libya, Algeria, Morocco, Tunisia and Egypt are opening up for exploration, the now Medserv plc is in a better commercial position to match its operations with potential clients in the region.
The operation from Kalafrana, obtained by a unanimous parliamentary resolution in 2003 after vacating Manoel Island, has given Medserv more flexibility and potential for expansion. |
