Audio By Carbonatix
Mobile phone and computer assembling firm, RLG Communications has now settled on listing on the Stock Exchange without raising capital.
This will see the company list the whole value of the business without issuing any new shares for capital.
The firm had originally indicated it would offload 45 percent of its business on the stock market to raise about 70 million dollars for expansion of projects by June this year.
Group chairman of RLG Roland Agambire disclosed this to Joy Business at a briefing to launch its 10 anniversary.
He explained “it is not about having too much capital or is not about being forced. Nobody forces people to go to the stock exchange.
“Stock market is one way of raising capital and another way you can be there and just trade.
“One of the key things you want to do is to have value for the organization and let other investors also have trust and then the environment within where you operate must have trust,” he said.
If successful, RLG will be the first indigenous firm in the country to list on the exchange without raising capital.
RLG has already settled on investment firm IC Securities as the sponsor of its IPO.
The company which began operations as a mobile assembling firm, now has operations in Nigeria, Seirra Leon and The Gambia
Meanwhile the company has launched RLG Foundation to help improve water supply in rural communities.
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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
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