Dangote Cement Quotes Commercial Papers Valued At 41bn On FMDQ Exchange

FMDQ Securities Exchange Limited (FMDQ) through its Board Listings and Markets Committee, has announced the quotation of Dangote Cement Plc’s 15.20 billion Series 1,7.96 billion Series 2 and 17.84 billion Series 3 Commercial Papers (CPs) under its 150.00 billion Commercial Paper Issuance Programme on its platform.

Dangote Cement Plc, a subsidiary of Dangote Industries, is sub-Saharan Africa’s leading cement company, with a production capacity of 48.6 million tons per year across 10 countries.

The proceeds from Dangote Cement Series 1 – 3 CPs, which were sponsored on the exchange by Stanbic IBTC Capital Limited, would be used to support the company’s short-term working capital and funding requirements.

Daily Trust reports.


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