Dangote Cement initiates a plan to buy back 10% of its shares on the Lagos stock exchange, with its sights still set on an IPO in London
After the dividend increase to halt the share’s free fall on the stock market failed, management hopes that reducing the number of outstanding shares will help the company maintain its chances of an IPO in London.
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▪ Dangote Cement initiates a plan to buy back 10% of its shares on the Lagos stock exchange, with its sights still set on an IPO in London
▪ After the dividend increase to halt the share’s free fall on the stock market failed, management hopes that reducing the number of outstanding shares will help the company maintain its chances of an IPO in London.
▪ https://www.africabusinessplus.com/en/803160/dangote-cement-initiates-a-plan-to-buy-back-10-of-its-shares-on-the-lagos-stock-exchange-with-its-sights-still-set-on-an-ipo-in-london/
Less than two weeks after the exceptional shareholders’ meeting of 22 January approved the change to the articles of association to allow senior management to buy back shares, Dangote Cement Plc spent 1.7 billion Nigerian nairas (€4.3 million) on the first two transactions to purchase its shares on the Lagos stock exchange.
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