Dangote Sugar Shrinks, Trades at 52% Below 52-Week High
Dangote Sugar Refinery Plc was priced down by 8.5% as investor dumped the company shares on the local bourse last week. The share of the company is most volatile among companies listed under Dangote brand name.
Traded at N43 per share on Friday, the Sugar refinery was among the top decliners, down from N47. At the current price, the sugar company is trading at about 52% discount below its 52 week high.
Dangote Sugar Refinery Plc notifies the Nigerian Exchange Limited and the general public of the successful registration of its ₦200 Billion multi-instrument issuance programme with the Securities and Exchange Commission.
The registration of the Multi-Instrument Issuance Programme represents a significant step for DSR and reinforces the Company’s commitment to diversifying its funding sources in alignment with its corporate objectives.
The company plan to proceed with the issuance of any series of securities under the Multi-Instrument Issuance Programme in due course, subject to prevailing market conditions and obtaining relevant regulatory approvals, according to the notice.
DSR said the specific details of such issuance will be disclosed in the appropriate transaction documents at the relevant time.
It added, however, that its announcement does not constitute an offer to sell securities under the Multi-Instrument Issuance Programme. #Dangote Sugar Shrinks, Trades at 52% Below 52-Week High BUA Cement Steadies Ahead of N68bn Dividend Plan
