• Friday, July 19, 2024
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Ronchess lists on NGX Growth Board

Ronchess surpasses NGX Growth valuation, targets Main Board

Ronchess Global Resources Plc on Friday December 17 listed its shares on the Nigerian Exchange Limited (NGX) Growth Board. Following regulatory approvals, Ronchess Global Resources Plc listed 91million units of its shares by way of introduction. The company’s ordinary shares of N1 each at N81 were listed on the Growth Board of the Nigerian Exchange Limited (NGX). The Nigerian Exchange Limited hosted the newly listed company to a digital Closing Gong Ceremony to commemorate the company’s listing on the NGX Growth Board.

“Having successfully listed on the growth board of the Nigerian Exchange Limited today (Friday), with a valuation almost double what is required for the Main Board of the Nigerian Exchange and way in excess of the Growth Board valuation requirement, Ronchess board and management will further be deepening its listing on the Nigerian Exchange by migrating to the Mainboard, subject to all required approvals and resolutions,” said Jackson Ukuevo, Chief Executive Officer, Ronchess Global Resources Plc.

Read also: NGX RegCo restates commitment to promoting fair, transparent market

For more than a decade, spanning a period of 13 years and counting, Ronchess has gone from a road marking and traffic management solution establishment, to a full-fledged road and bridges construction firm, and currently strategizing with the Advisory arm of KPMG Nigeria to morph Ronchess into a global infrastructure management group on or before Ronchess’s 20th Anniversary in 2028.

With Ronchess’s successful listing on the NGX, the company is now more positioned to work alongside Ronchess’s board and management in meeting up with the required obligations of a listed company and as well convince other aspiring firms desirous of been listed on the Nigerian Exchange, the CEO noted.

Mainstreet Capital Limited acted as the Issuing House/Financial Adviser while the stockbroker is FSDH Capital Limited. Other professional parties to the listing are Tac Professional Services, Coronation Registrar Limited, Tokunbo Orimobi LP and Signature Advisory Limited.