Dangote Cement Plc says it will this week begin the first phase of its plan to buy a portion of its ordinary shares back from shareholders.
The first phase will kick off on Wednesday 30th December and will see Dangote cement mop up 85 million, 202 thousand and 537 ordinary shares or 0.5% of its around 17.041 billion ordinary shares from circulation.
It will be completed on 31st December or “when the entire tranche size has been purchased. The company explains that the shares being bought back by the company under the share buy-back programme will be held as treasury shares, and may subsequently be cancelled
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