Dangote Cement initiates a plan to buy back 10% of its shares on the Lagos stock exchange, with its sights still set on an IPO in London
After the dividend increase to halt the share’s free fall on the stock market failed, management hopes that reducing the number of outstanding shares will help the company maintain its chances of an IPO in London.
26/02/2020 at 17h43, by Africa Business+
Less than two weeks after the exceptional shareholders’ meeting of 22 January approved the change to the articles of association to allow senior management to buy back shares, Dangote Cement Plc spent 1.7 billion Nigerian nairas (€4.3 million) on the first two transactions to purchase its shares on the Lagos stock exchange.
Recommended articles
Agri-food industry
13/01/2020 at 14h36, by Aurelie Benoit
With the backing of Afreximbank, Notore is pushing full steam ahead of rivals Dangote and Indorama on the Nigerian fertilizers market
Businessman Onajite Okoloko’s company will restart production at its plant at full capacity to get back...
Building materials
03/01/2020 at 16h10, by Valentin Grille
Dangote looks to Lafarge for its new CEO, Michel Puchercos
To mitigate the departure of the group chief executive officer, the firm has recruited its new top executive...