By Chinwendu Obienyi
The Nigerian Exchange Limited (NGX) has announced that it has facilitated the financing of over N5 trillion in capital raised by governments and corporates so far in 2021.
The Chief Executive Officer, NGX, Temi Popoola, made this known during the Closing Gong Ceremony to commemorate the successful listing of 91,000,000 ordinary shares of Ronchess Global Resources Plc (Ronchess) on the Growth Board of the exchange which was held on Friday.
Popoola stated that the NGX All Share Index (ASI) has continued to remain resilient in the face of major macroeconomic 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 including in infrastructure through companies such as Ronchess.
He said, “In the course of the year, our support for capital raising has continued with NGX facilitating the financing of over N5 trillion in capital raised by governments and corporates”.
While congratulating Ronchess Global Resources’ effort in listing its shares, the NGX CEO said, the exchange is quite optimistic that the listing will spur activities on the Growth Board even as it continues to encourage businesses to list their securities in the market and investors to deploy capital across its various financial products.
“Today’s new entrant to NGX, Ronchess, is a leading provider of traffic solutions, construction, and procurement services in Nigeria with a large client base cutting across corporates and MDAs. This listing signals the importance of the Growth Board and reinforces NGX’s commitment to supporting issuers in achieving their strategic objectives.
The Growth Board is designed to encourage growth-oriented companies to leverage the capital market in raising long-term capital, stimulate growth, and promote liquidity. The board targets fast-growth companies such as Ronchess, who have demonstrated the appetite to enhance their attractiveness in the global market and connect them with an extensive pool of both local and international investors.
The NGX is pleased to be a part of this exciting moment in the story of Ronchess and we assure the company’s leadership that in achieving your strategic business objectives, NGX remains your trusted business partner”, He explained.
Popoola, thereafter, assured the investing community that the exchange will continue to embrace its role in capital market development by actively engaging various key stakeholders including the Government, policymakers, and capital market intermediaries on opportunities to develop the capital market and the provision of thought leadership to aid the ease of doing business in the nation.