The Nation Newspaper Dangote Sugar launches N200b capital raising
Dangote Sugar Refinery Plc has launched a N200 billion capital raising programme aimed at further diversifying the company’s balance sheet.
The board of the company stated that registration of the multi-instrument issuance programme represented a significant step as it reinforces the company’s commitment to diversifying its funding sources in alignment with its corporate objectives. Dangote Sugar Refinery is Nigeria’s largest producer of household and commercial sugar with 1.44 million metric tonnes refining capacity at the same location. Its refinery located at Apapa Wharf Ports Complex, refines raw sugar imported from Brazil to white, Vitamin A fortified refined granulated white sugar suitable for household and industrial uses.
In order to achieve its business goals, Dangote Sugar Refinery had acquired Savannah Sugar Company Limited, located in Numan, Adamawa State in December 2012, and embarked on rehabilitation of its facilities and expansion of its 32,000 hectares’ sugarcane estate.
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