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

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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.

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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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