Dangote Cement to List N150b Commercial Paper on FMDQ

By Dipo Olowookere

Plans are underway by the management of Dangote Cement Plc to issue commercial papers worth N150 billion.

The papers would be listed on the trading platform of FMDQ, the cement manufacturer disclosed in a statement.

According to the statement, proceeds of the exercise would be deployed towards capital expenditure, working capital and general corporate purposes.

Acting Group Chief Executive Officer of Dangote Cement, Mr Joe Makoju, said in the statement he personally signed that the capital raising will either be as a stand-alone transaction or be executed in tranches.

Dangote Cement is one of the most capitalised company listed on the floor of the Nigerian Stock Exchange (NSE).

Shares of Dangote Cement, as at the time of this report, is trading at N229 per share.