Oilfield services provider Action Energy Company plans ‍to expand ‍regionally while maintaining a strong focus ​on its home market, its chairman said on ⁠Wednesday, after the company's shares began trading on Kuwait's ⁠premier stock ‌market.

Founded in 2015, AEC provides drilling, exploration and production, gas injection and ⁠maintenance services for oil and gas facilities, wells, refineries and petrochemical plants.

The company has "the financial strength to pursue ⁠both local and regional growth ​as part of its strategy", Chairman Sheikh Mubarak Abdullah Al-Sabah ‍said at a press conference following the start ​of trading, without naming specific countries targeted for expansion.

The company will continue to prioritise Kuwait, where rising oil production capacity presents major opportunities for oilfield services firms, he added.

AEC shares were priced in its initial public offering at 212 Kuwaiti fils each. They rose ⁠as high as 260 ‌fils before ending at 240 fils.

National Investments Company of Kuwait acted as exclusive listing ‌adviser and ⁠subscription agent.

($1 = 0.3068 Kuwaiti dinars)

(Reporting by Ahmed ⁠Hagagy. Editing by Mark Potter)