Ronchess Global Resources to List Shares on Stock Exchange
By Dipo Olowookere
A Lagos-based company, Ronchess Global Resources Plc, is planning to list its shares on the Nigerian Exchange (NGX) Limited, a regulatory document sighted by Business Post has revealed.
What to know about Ronchess Global Resources
Ronchess Global is a company with its headquarters located in Victoria Island, Lagos. The company is into the construction of roads and according to its website, its major focus is “to deliver excellence and client satisfaction consistently and therefore we focus on areas of service where we have proven expertise and a solid track record.”
Ronchess is also a provider of traffic solutions, mechanised road markings and materials and boasts of highly skilled airport solution technicians, who specialise in all types of runway and taxiway markings and maintenance.
Reason for joining NGX
To expand its business and explore the capital market in Nigeria, the company intends to list its equities on the exchange and this would be done by introduction.
To make this happen, the firm instructed its stockbroker, FSDH Capital Limited, to file an application to the Nigerian exchange for the listing by introduction.
Business Post learned that this request to join the stock exchange has been granted. The approval was given on Monday, November 8, 2021, according to the document seen by this newspaper.
The company wants to join the growth board of the NGX and it is listing 91,000,000 units of ordinary shares of N1.00 each at a unit price of N81.00.
About Growth Board
Last year, the NGX created the growth board to provide a platform for greater global visibility for eligible Nigerian entities and foreign companies, which will engender global capital flows.
When it was created, four companies were moved into the segment and they were Chellarams Plc, LivingTrust Mortgage Bank Plc, McNichols Plc and The Initiates Plc.