Sealink public offer which is selling at $0.70 per ordinary share with net proceeds of $60 million ordinary shares opened on March 24, 2014 is expecting to close by September 30, 2014.
Speaking at the Sealink investors’ forum held in Lagos yesterday, Orya said the purpose of the offer is to raise the funds needed to acquire se going vessels for conveying people and cargo across the West and Central Africa coast.
He said the ability of the regional economies of West and Central Africa to grow and compete on a global scale depends largely on efficient and barrier free intra and inter regional trading.
He said the response of governments and the organized private sectors in the various countries concerning the project have been quite tremendous.
Orya said the forum is underscored by the growing significance and relevance of trade to global development.
According to him, “Empirical evidence has shown that unlike the other developed regions of the world, Africa has continued to underperform its growth and development potentials, party due to its low trade volumes, amongst other factors”.
He affirmed that, Africa accounts for about 15 per cent of the global population and possesses very rich agricultural and mineral endowments, and its contribution to the global trade has been low, accounting for only 3.5 per cent in 2012, as against Europe’s contribution of 35.6 per cent, 31.5 per cent by Asia and 13.2 per cent by North America.
