Nigeria's Dangote Industries Ltd sold a 2.3 per cent stake in Dangote Cement to foreign investors on Tuesday in a stock market deal valued at NGN86.1bn (US$236m), Reuters reported yesterday.

Dangote Cement has been selling small stakes to increase its free float. A spokesman for the Nigerian Stock Exchange said 416 million shares of Dangote Cement were sold on Tuesday at NGN210 each in six off-market deals negotiated between Stanbic IBTC and Meristem stockbrokers.

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