Dangote Sugar Raises N486bn Rights Issue to Reduce Debt, Strengthen Capital

Dangote Sugar Raises N485.88bn As Rights Issue Records 102.6% Subscription

Dangote Sugar Refinery Plc has raised approximately N485.88 billion through its rights issue after investors applied for more shares than were available under the capital-raising exercise. The company offered 8,097,918,827 ordinary shares of 50 kobo each at N60 per share, on the basis of two new shares for every three existing shares held by eligible […] The post Dangote Sugar Raises N485.88bn as Rights Issue Records 102.6% Subscription appeared…

Dangote Sugar raises $356 million in oversubscribed issue

Aliko Dangote has pulled in fresh capital to steady a business that has been bleeding money. Dangote Sugar Refinery, Nigeria's largest sugar producer, has raised about $356 million (₦486 billion) through an oversubscribed rights issue, using the proceeds to cut debt and fund a long-delayed push to grow more of its own sugar at home.The company sold roughly 8.1 billion new shares at ₦60 each, offering existing holders two new shares for every thr…

Dangote Sugar Raises N486bn Rights Issue to Reduce Debt, Strengthen Capital

By Adedapo Adesanya Dangote Sugar Refinery Plc, Nigeria’s biggest sugar producer, has raised N486 billion ($356 million) through an oversubscribed rights issue as the company moves to reduce its debt burden and strengthen its capital base after three consecutive years of losses. The company, founded by Mr Aliko Dangote, raised the funds through the issuance […]

Dangote Sugar Refinery raises ₦485.9b as Rights Issue is fully subscribed

WorldStage–  Dangote Sugar Refinery Plc, Nigeria’s largest sugar producer, with an installed refining capacity of about 1.49 million metric tonnes per annum, has successfully raised ₦485.88 billion through its rights issue after the offer was oversubscribed, according to a filing submitted to the Nigerian Exchange (NGX). The company offered 8,097,918,827 ordinary shares of 50 kobo each […]

Dangote Sugar raises N485.9 billion as investors oversubscribe rights issue

Dangote Sugar Refinery Plc has successfully raised N485.9 billion through its Rights Issue after investors fully subscribed to the offer. The post Dangote Sugar raises N485.9 billion as investors oversubscribe rights issue appeared first on Nairametrics.