Nigeria's Dangote Sugar Refinery plans to raise 100 billion naira ($503 million) through a mix of debt and equity by the third quarter, its chief finance officer Babatunde Ajao said on Wednesday.
Nigerian company plans $503M capital raise by third quarter
"We are looking at the middle of the third quarter to come to the market ... to raise 100 billion naira in total," Ajao told an analyst call.
The company, owned by Africa's richest man Aliko Dangote, and supplies refined sugar to soft drinks and confectionery makers, is targeting a 20 billion naira share sell while the balance would raised through bank loans and bond sales.
($1 = 199.00 naira)
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Adamawa Police reaffirms ban on motorcycles in Yola
You make bold decisions & live with consequences - Ondo Gov hails Tinubu at 72
170 electrical vandalism cases in 2 years, 100 charged to court - EEDC
Tinubu appoints Bello as chairman of code of conduct bureau
Don't curse, condemn Nigeria in your sermons - Tinubu tells clerics
Lagos postpones eagerly anticipated Easter boat regatta indefinitely
Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister
Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping
Wike thanks Tinubu for the opportunity to serve
Pulse Sports
Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?
I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream
Michelle Alozie: I had to do it because of African referees
AC Milan star reveals he was named after Super Eagles legend Tijani Babangida
Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana
Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana
ADVERTISEMENT