• Friday, July 19, 2024
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Ronchess surpasses NGX Growth valuation, targets Main Board

Ronchess surpasses NGX Growth valuation, targets Main Board

Ronchess Global Resources plc, a newly listed company on the Nigerian Exchange Limited (NGX) Growth Board, plans to upgrade its listing status to the Main Board.

The NGX on December 17 hosted Ronchess Global Resources plc to a digital Closing Gong Ceremony to commemorate the company’s listing on the NGX Growth Board.

Jackson Ukuevo, CEO, Ronchess Global Resources, said, “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 Main Board, subject to all required approvals and resolutions.”

Companies listed on the Main Board benefit from being able to leverage a reputable marketplace to access capital from a deep pool of local and international investors.

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 being listed on the Nigerian Exchange, he said.

“Our eternal gratitude equally goes to Mainstreet Capital Limited, FSDH Capital Limited, Tac Professional Services, Coronation Registrar Limited, Tokunbo Orimobi LP and the management of Signature Advisory Limited – the professional parties, for their joint relentless efforts and immeasurable contributions in the last one year, working without ceasing, to secure the necessary approvals and documentations required for the successful listing of Ronchess Global Resources Plc on the Nigerian Exchange Limited,” he said.

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. The company is currently strategising 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.

“KPMG is developing a 5-10 years business plan for Ronchess to aid its transitioning beyond the business of construction and the same will be made available to the investing public upon completion,” the CEO said.

He noted that the listing of Ronchess on the NGX “indeed mark Signature Advisory proof of concept of a glorious and prosperous future embedded in the business advisory strategy of going public, sold to our private establishment clienteles with significant revenue base, backed with the required valuation as Ronchess Global Resources plc of today.”