Dangote Sugar raises N498.57bn as rights issue attracts 102.6% subscription

Dangote Sugar Refinery Plc has raised N498.57 billion through its rights issue after investors subscribed to 8.309 billion ordinary shares, representing 102.6 per cent of the 8.098 billion shares offered. The rights issue was offered at N60 per share on the basis of two new shares for every three shares held by shareholders as at April 20, 2026.
The company received 14,595 valid applications for 8.309 billion shares valued at N498.567 billion at the close of the offer on June 24, 2026. The subscription exceeded the number of shares offered by 211.528 million units. The basis of allotment has been approved by the Securities and Exchange Commission (SEC), while the company’s registrar, V...