Gas Group Plc is preparing to list its existing ordinary shares on the main board of the Nigerian Exchange Limited (NGX), in a move the company says will strengthen corporate governance, improve access to capital and support its next phase of expansion across Nigeria and Africa. The proposed Gas Group NGX listing comes as the company broadens its ambitions beyond oil and gas services into refining, gas infrastructure, power generation and wider energy solutions.
Speaking with journalists on the company’s expansion strategy, Gas Group Chief Executive Officer, Gliffeth Wonuigwe, said the listing would give the company a more structured platform for its shares, improve price discovery and create opportunities for eligible investors to participate in its long-term growth. The transaction is expected to be carried out through a listing by introduction, meaning the company’s existing shares would be admitted for trading on the NGX without an immediate public offer or the issuance of new shares at the point of listing.
Beyond the capital market, Gas Group is setting its sights on one of the fastest-growing areas of the digital economy: energy supply for artificial intelligence and large-scale computing. The company plans to develop dedicated gas-to-power infrastructure for AI-powered data centres, hyperscale computing facilities, cloud platforms, telecommunications infrastructure and other energy-intensive digital operations. Its proposed solutions could combine gas-fired generation, embedded power plants, LNG infrastructure, battery storage, backup systems and renewable energy, depending on the needs of each project.
The company is also looking to accelerate its growth through acquisitions, strategic investments and partnerships across the gas and power value chains. Potential targets include gas processing and distribution companies, LNG and CNG infrastructure, transportation and storage assets, power-generation businesses, oil and gas engineering firms, data-centre power and cooling providers, as well as renewable energy and battery-storage companies. Gas Group said each potential transaction would undergo due diligence, valuation, regulatory checks and the required board and shareholder approvals.
According to Wonuigwe, the company’s broader goal is to build an integrated energy value chain that connects gas production and processing to transportation, storage, power generation and industrial consumption. With Nigeria continuing to face electricity supply challenges while demand for digital infrastructure grows, Gas Group believes reliable energy could become a major factor in attracting and sustaining large-scale technology investments. If completed, the NGX listing could also open the door to funding through equity, bonds, commercial paper, infrastructure funds and project finance as the company pursues its ambition of becoming a major African gas and energy-infrastructure player.
source: punch
