A $14 billion listing is set to alter the structure of the Nigerian stock market. It will account for more than a third of the exchange’s total capitalization.
The listing will follow the merger of two subsidiaries of Lagos-based Dangote Group: Benue Cement Company (BCC) and Dangote Cement. In September Nigeria’s Securities and Exchange Commission and the quotation committee of the Nigerian Stock Exchange approved the merger and the subsequent listing of Dangote Cement.
Local firms Vetiva Capital Management and Afrinvest are advising Dangote Cement on the merger.
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