Dangote Cement is steadily on track to realise the target of repurchasing up to 10 per cent of its common stock, having received the capital market regulator’s authorisation to start a new share buyback.
The company announced Wednesday the Securities and Exchange Commission had validated the move, setting up Africa’s largest cement manufacturer for the launch of its third share repurchase in less than three years.
From the first phase completed on the last day of 2020, 40.2 million shares were repurchased for N9.8 billion, representing 0.2 per cent of the total issued shares.
