Dangote says group companies will pursue stock-market listings
Aliko Dangote says every business within the Dangote Group is planned for listing on the stock market. He says the move is intended to create wealth, while shareholders in the group’s refinery are expected to receive dividends denominated in dollars. The supplied report does not provide a timetable or further listing details.
Aliko Dangote has said that all businesses belonging to the Dangote Group will eventually be listed on the stock market, according to Punch Nigeria. Dangote said the planned listings would help create wealth. The source material does not specify whether the businesses would be listed simultaneously or separately, nor does it identify the exchanges or a schedule for the proposed transactions.
He also said shareholders in the Dangote refinery would receive dividends in dollars. The supplied information does not state when those payments would begin, how they would be calculated or whether the dividend plan applies to all shareholders. The comments indicate an intention to widen public ownership of the group’s businesses through stock-market listings.
However, the report provides no details on the size of any proposed offerings, the companies to be listed first or the regulatory steps involved. Dangote Group is the business group referred to in the report, while Dangote is identified as the person making the announcement. No other reaction, timetable or financial projection was included in the supplied material.
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.