Sugar company controlled by Africa's richest man swings to $56 million profit
Nigerian billionaire Aliko Dangote’s Dangote Sugar swung to a $55.9 million nine-month profit after a N485.9 billion rights issue cut its borrowings by nearly 90%.
Dangote Sugar
Aliko Dangote's sugar unit adds 67% more shares in $356 million raise
Dangote Sugar's share count has risen by two-thirds after 8.1 billion new shares from its rights issue were listed in Lagos. The N485.9 billion raised was meant to cut debt that stood at more than four times equity, but the proof will not appear until the next quarterly accounts.
Dangote's sugar company raises $356 million in oversubscribed rights issue after years of losses
Aliko Dangote's Dangote Sugar Refinery has raised $356 million in an oversubscribed rights issue to cut debt and expand local production after years of losses.
Aliko Dangote's sugar company just opened a $300 million rights issue. The naira almost killed it first
Dangote Sugar Refinery has opened a N485.9 billion ($300 million) rights issue at N60 per share, offering two new shares for every three held, in a bid to slash debt and revive its Sugar for Nigeria backward integration programme.
Aliko Dangote's sugar firm opens a $324 million rights issue to bankroll local production
Aliko Dangote's Dangote Sugar has opened a N485.9 billion ($324 million) rights issue to strengthen its balance sheet and fund a major local-production drive.
Aliko Dangote's sugar company just got shareholders' backing for one of Nigeria's largest ever rights issues
Shareholders of Aliko Dangote's sugar company have approved a N500 billion rights issue, one of the largest in Nigerian corporate history, to fund backward integration and expansion.