Nigerian Exchange Limited (NGX), has announced the listing of 91,000,000 ordinary shares of Ronchess Global Resources Plc on the Growth Board of the exchange.
The Chief Executive Officer of Nigerian Exchange Limited (NGX), Temi Popoola, made this known during the Closing Gong Ceremony to commemorate the successful listing held last Friday.
According to the information posted on the website of NGX, the new entrant to NGX, Ronchess, is a leading provider of traffic solutions, construction, and procurement services in Nigeria with a large client base cutting across corporates and MDAs. The listing according to NGX signals the importance of the Growth Board and reinforces NGX’s commitment to supporting issuers in achieving their strategic objectives.
The Chief Executive Officer, NGX, represented by the Divisional Head, Listing Business, NGX, Olumide Bolumole, at the ceremony marking the successful listing stated that the NGX All Share Index (ASI) has continued to remain resilient in the face of major macro-economic shocks including; increased insecurity, foreign exchange volatility amongst others.
According to information available on NGX website the CEO representative similarly noted that in spite of the challenges, the NGX has continued to play its role as a capital aggregator connecting investors with opportunities across sectors including in infrastructure through companies such as Ronchess.
“In the course of the year, our support for capital raising have continued with NGX facilitating the financing of over N5 trillion in capital raised by governments and corporates,” Mr Bolumole added.
In his remarks, Managing Director, Ronchess Global Resources Plc, Mr. Jackson Ukuevo, express profound gratitude to the board and management of Nigerian Exchange Limited and Securities and Exchange Commission (SEC) for the regulatory approval given to Ronchess to list on NGX.
The Growth Board of NGX is designed to encourage growth-oriented companies to leverage the capital market in raising long-term capital, stimulate growth, and promote liquidity. The board targets fast-growth companies such as Ronchess, who have demonstrated the appetite to enhance their attractiveness in the global market and connect them with an extensive pool of both local and international investors.
The exchange similarly expressed optimism that the listing will spur activities on the Growth Board even as it continues to encourage businesses to list their securities in the market and investors to deploy capital across its various financial products.