BusinessDay

Ronchess targets N7.3bn from listing shares on Nigerian Exchange

...to list by introduction on Growth Board

Ronchess Global Resources Plc has gotten approval to list 91million units of its shares by way of introduction.

The company’s ordinary shares of N1 each at N81 will be listed on the Growth Board of the Nigerian Exchange Limited (NGX).
The approval is in furtherance to the Securities and Exchange Commission (SEC) approval earlier on in August for Ronchess listing.
Ronchess Global Resources is a leading provider of traffic solution, construction and procurement services in Nigeria.

Founded in 2008 by Jackson Ukuevo, who is the Managing Director and currently oversees more than 50 employees, Ronchess Global Resources has grown to become a leading solution provider in the country.

The company got approval on November 8 for the listing by introduction. Mainstreet Capital Limited is the Issuing House/Financial Adviser while the stockbroker is FSDH Capital Limited.

Ronchess provides services for a long list of clients including, The Federal Ministry of Works, Lagos State Government, River States Government, Delta State Government, Edo State Government, Enugu State Government, Ogun State Government, Akwa Ibom State Government, Cross River State Government and Oyo State Government.

Read also: NGX says remains preferred listing destination

Other clients it provides services to include: The Redeemed Christian Church of God, HI-TECH Construction Company, Lekki Concession Company, Julius Berger Nigeria Plc, Ryenolds Construction Company Limited, PW Nigeria Limited, FCDA, F.C.T, Abuja, SETRACO Nigeria Limited, Flourmill Nigeria Plc, Lubric Construction Company, Hartland Nigeria Limited, Parkview Estate, J.Harnel & Co. Ltd., UNAAB, LASTMA, ARAB Contractors, and Planet Project.

In a letter to the Stockbroker on the listing transaction – FSDH Capital, the approval was communicated officially for the commencement of the listing activities of Ronchess on the Nigerian Exchange Growth Board.

Listing by introduction is a way of listing shares already in issue on another exchange. No marketing arrangement is required as the shares for which listing is sought is already widely held.

Ronchess provides services in Traffic Solution, Construction and Procurement. The company has years of experience and proficiency in mechanized road marking, design and installation of road signs, installation of traffic lights, and installation of intelligent traffic data & transport systems. It also offers excellent services in road construction, private, commercial and municipal buildings construction, clear view fence and parameter fence construction.

Get real time updates directly on you device, subscribe now.