Nigeria, April 20 -- Dangote Sugar has received shareholders' nod to raise half a trillion naira by way of rights issue, the sugar manufacturer stated in the outcome of its 20th annual general meeting, posted on the Nigerian Exchange's website on Monday.

The planned share sale to shareholders requires the approval of relevant regulatory authorities to fly, while the terms and conditions, as well as the time of the offer, will be decided by the board of directors of the company.

"Any shares not taken up by existing shareholders within the period stipulated under the Rights Issue may be offered to shareholders of the company that have indicated interest in purchasing additional shares, on such terms and conditions as may be determined by ...