Nigeria, Aug. 17 -- Dangote Sugar Refinery Plc has raised N498.57 billion after its rights issue attracted subscriptions worth 102.6 per cent of the shares offered to investors.

The company received valid applications from 8.309 billion ordinary shares, more than 8.098 billion ordinary shares issued in 211.53 million units. The price per share is N60, and shareholders will be offered two new shares for every three shares as of April 20, 2026.

14,595 valid applications were received before the June 24th deadline. The allotment's basis was approved by the Securities and Exchange Commission, and the successful applicants are expected to see their shares registered in their Central Securities Clearing System accounts.

The News Chronicle r...