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What to know as Dangote Sugar shops for N50bn from CPs issuance

^{Published on 2024-12-10 07:01:18 - businessday}
 

• Dangote Sugar Refinery Plc (DSR) is currenting in the market shopping for N50billion from series 6, 7 Commercial Paper

Dangote Sugar Refinery Plc is seeking to raise N50 billion through a Corporate Public Sale (CPS) issuance, as reported by BusinessDay. This financial move is aimed at funding the company's expansion plans, particularly the Backward Integration Project (BIP) which focuses on local sugar production to reduce import dependency. The CPS issuance will involve offering shares to the public, potentially increasing the company's market capitalization and liquidity. This strategy comes at a time when the company is looking to enhance its operational capacity and meet the growing demand for sugar in Nigeria. The funds are expected to support the completion of the N162.2 billion BIP, which includes the development of sugar estates and refineries in key regions like Nasarawa, Adamawa, and Taraba states. The initiative not only aims at self-sufficiency in sugar production but also at creating jobs and contributing to the economic development of these areas.

Read the Full businessday Article at:
[ https://businessday.ng/companies/article/what-to-know-as-dangote-sugar-shops-for-n50bn-from-cps-issuance/ ]

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