Dangote Cement Capitalisation Rises To N4.8trn In 3 Weeks

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Dangote Cement Plc market capitalisation rose to N4.855 trillion in three weeks following its share buy-back programme. The company’s capitalisation on

The mogul, Bloomberg reported, is among the 35 billionaires of the top 100 in the world that recorded an increase in their wealth in January. The most phenomenal advance was the jump by $13 billion to $89.5 billion in the riches of India’s most affluent man, Gautam Adani.Dangote’s wealth is on course to see a much greater boost later in 2022 when his $19 billion petroleum refinery project is expected to be delivered.

Dangote Cement Plc carried out its second tranche of the share buyback programme on January 19 and 20, 2022 as the management repurchased 170.003 million shares from shareholders. This comes after the company’s shareholders approved the move at the annual general meeting held in May 2021. Dangote also said the shares being repurchased by the Company under the Share Buy-Back Programme will be held as treasury shares and may subsequently be cancelled, saying that execution of this Tranche II is not expected to have any material impact on the company’s financial position.

 

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