Dangote Sugar Refinery Plc has officially commenced trading of its rights issue on the Nigerian Exchange Limited (NGX), marking a major milestone in its capital-raising initiative aimed at raising approximately ₦485.88 billion from existing shareholders. The trading window opened on May 25, 2026, and will remain active until June 24, 2026, giving investors time to participate in the offer. This move is part of the company’s broader strategy to strengthen its financial position and support long-term expansion plans in Nigeria’s competitive sugar and food manufacturing sector.
The rights issue involves the offer of 8,097,918,827 ordinary shares, each with a nominal value of 50 kobo, at a subscription price of ₦60 per share. Shareholders who were registered as of the close of business on April 20, 2026, are eligible to subscribe for two new shares for every three existing shares they hold. This proportional allocation ensures fairness and maintains the ownership structure among existing investors. The rights issue has been assigned the trading symbol RR26DANGSU and the ISIN code NGRR26DANSG0 for identification and trading purposes on the NGX.
If fully subscribed, the transaction is expected to generate ₦485.88 billion, positioning it as one of the largest equity raises in Nigeria’s consumer goods sector in recent years. The funds will be used to bolster Dangote Sugar’s capital base, support operational expansion, and enhance its production capacity. As a leading sugar producer in Nigeria, the company plays a critical role in the government’s backward integration programme, which seeks to reduce reliance on imported sugar and promote local agricultural development.
Rights issues allow shareholders to purchase additional shares at a predetermined price, often at a discount to the current market value, based on their existing holdings. Shareholders who choose not to exercise their rights can trade them on the exchange during the offer period, providing liquidity and flexibility. Veritas Registrars Limited is handling the registration and administration of the offer, ensuring transparency and compliance with regulatory requirements.
Investors and market analysts are closely monitoring subscription levels as the June 24 deadline approaches. The successful execution of this rights issue could signal strong investor confidence in Dangote Sugar’s future prospects and its ability to lead Nigeria’s sugar production revolution. The company’s continued growth may also have wider implications for food security and industrial development in the country.
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