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Nigeria’s Dangote Sugar Refinery Plc, opens new tab raised about 486 billion naira ($368 million) in a rights issue, a market bulletin issued by the country’s main stock exchange showed on Monday.
The rights issue comes as Dangote Group is preparing for a larger initial public offering (IPO) of its oil refinery business, in what is expected to be Africa’s biggest-ever share sale.
The market bulletin showed roughly 8.1 billion new ordinary shares of Dangote Sugar Refinery Plc had been listed on the stock exchange, taking the total issued and fully paid-up share capital of the sugar refinery business to about 20.2 billion ordinary shares.
Aliko Dangote, founder and majority shareholder of Dangote Group, is Africa’s richest man. He built his fortune in cement but his sprawling business empire also spans flour milling, agriculture and real estate.
More details: https://www.reuters.com/world/africa/nigerias-dangote-sugar-refinery-raises-about-368-million-rights-issue-2026-09-07/