Dangote Sugar shareholders approve N500bn Rights Issue for strategic expansion

Dangote Sugar Refinery Plc’s shareholders have approved a N500 billion rights issue, giving the company a larger capital base to fund expansion and backward‑integration projects. The financing is expected to boost domestic sugar production, create jobs and reduce Nigeria’s reliance on imported sugar.

By Udeme Akpan Dangote Sugar Refinery Plc has received shareholders’ approval for a N500 billion Rights Issue, thus positioning the company to strengthen its financial standing, expand capital base, accelerate strategic initiatives, and aid its backward integration projects. The approval was given at the company’s 20th Annual General Meeting held yesterday in Lagos during which […] The post Dangote Sugar shareholders approve N500bn Rights Issue for strategic expansion appeared first on Vanguard News.