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NGX facilitates over N5 trillion capital, lists firm’s 91m shares

By Helen Oji
21 December 2021   |   2:01 am
Nigerian Exchange Limited (NGX) has listed Ronchess Global Resources Plc's 91,000,000 ordinary shares on the exchange's growth board, even as the bourse announced the facilitation and financing of over N5 trillion ...

Temi Popoola, CEO Nigerian Exchange Group (NGX)

Nigerian Exchange Limited (NGX) has listed Ronchess Global Resources Plc’s 91,000,000 ordinary shares on the exchange’s growth board, even as the bourse announced the facilitation and financing of over N5 trillion in capital raising by governments and corporates in 2021.

Chief Executive Officer, NGX, Temi Popoola, represented by Olumide Bolumole, Divisional Head, Listing Business, NGX, made this known during the Closing Gong ceremony to commemorate the success of the listing at the weekend.

Popoola stated that the NGX has continued to remain resilient in the face of major macro-economic shocks including, increased insecurity, foreign exchange volatility, amongst others.

He 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.

“In the course of the year, our support for capital raising has continued with NGX facilitating the financing of over N5 trillion in capital by governments and corporates.”

While congratulating the company on listing its shares, the NGX CEO said the exchange was quite optimistic that the listing would spur activities on the growth board even as it continues to encourage businesses to list their securities in the market to enable investors to deploy capital across its various financial products.

In his remarks, the Managing Director of the company, Jackson Ukuevo, expressed his gratitude to the board and management of the NGX and Securities and Exchange Commission (SEC) for the regulatory approval given to the company to list on the exchange.

“Having successfully listed on the growth board of NGX, almost double the valuation on the main board requirement of NGX and weigh in the essence of the growth board valuation requirement, Ronchess management will further be deepening its listing on the Nigerian exchange by migrating to the main board, subject to the required approval and resolution.”