Lagos (Reuters) Dangote Industries Limited sold 128.5 million shares of Dangote Cement at 210 naira each on Monday in a one-off stock market deal valued at 27 billion naira ($85.9 million), traders said.
Africa’s biggest cement maker has been selling small stakes to increase its free float, which is well below the Nigerian stock exchange’s required level.
or_border = 'B0C9EB';
google_color_link = '164675';
google_color_bg = 'FFFFFF';
google_color_text = '333333';
google_color_url = '2666F5';
google_ui_features = 'rc:0';
In August, the cement maker, owned by Africa’s richest man Aliko Dangote, sold a 2.3 percent stake in Dangote Cement to foreign investors in a deal valued at 86.1 billion naira.
Reporting by Chijioke Ohuocha, editing by Louise Heavens