Dangote Cement shares trade in off-market deal worth $86 mln

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Aliko Dangote Photographer: Tom Saater/Bloomberg

LAGOS – Nigeria’s 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.

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.

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