Dangote Group may list consolidated arm in November

Dangote Group may list consolidated arm in November
Published: 28 April 2011

Should the bid to consolidate its cement production subsidiaries continue as planned, Dangote Group will list the emergent company (Dangote Cement Plc) on the Nigerian Stock Exchange (NSE) on November 5.

Shareholders of both Dangote Cement and sister company- Benue Cement Company, are scheduled to meet in Kano on September 28, for a meeting ordered by the Federal High Court, Lagos, to consider and “if thought fit,” approve the merger bid.

The new entity is expected to significantly boost the NSE capitalisation by 30 per cent, according to Reuters, which quoted merger documents as hinting that 15.5 billion shares in Dangote Cement Plc would be listed at a value of N135.