• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result

Again, NSE Extends Dangote Cement Deadline to Comply With Free Float Rule

Nairametrics by Nairametrics
January 5, 2015
in Uncategorized
Share on FacebookShare on TwitterShare on Linkedin

Why dumping the food business makes economic sense for Dangote

Dangote Cement has been granted a two year extension to comply with the Free Float rules of the Nigerian Stock Exchange. They now have till October 2016 to comply. The Nigerian Stock Exchange rules requires companies quoted on the Main Board of the Nigerian Stock Exchange to have at least 20% of its outstanding shares in free float (in the hand of the public). Currently, by our estimates Dangote Cement has just over 8% of its shares outside the hands of its majority shareholder Aliko Dangote. It sold 1.5% to South African SWF (PIC) in 2013 for  N45.7billion and another 1.3% to Investment Corporation of Dubai for $30om.

According to an article which originally appeared in the Nation,  NSE has extended the deadline for Dangote Cement to October 2016, following its failure to meet the October 2014 deadline.

RelatedStories

 Africans will develop Africa, Dangote tells Global CEOs 

 Africans will develop Africa, Dangote tells Global CEOs 

July 14, 2025
Stock market kicks off September in the red: ASI slips 0.15% amid declining trading volume 

Nigerian Stocks start July in red as All-Share Index slips 0.2%; Ellah Lakes leads daily volume 

July 2, 2025

The NSE had earlier given Dancem October 2014 to comply with listing regulations that require all quoted companies to have minimum free float of 20 per cent. The management of Dancem had applied and presented compliance plan based on which the NSE approved compliance deadline of October 2014 for the company.

The Nation’s check indicated that NSE has extended the deadline for Dancem to October 2016, following the failure of Dancem to meet the October 2014 deadline.

Dancem’s free float, according to NSE official document, remains below free float benchmark at 9.07 per cent, implying that Aliko Dangote’s Dangote Industries Limited (DIL) may have to sell some 10.93 per cent equity stake to the general investing public.

Whilst it’s somewhat perturbing that the exchange can’t seem to enforce compliance with a behemoth like Dangote Cement, one can only look to the size of the company to understand why their hands are forced. Dangote Cement has a market cap of about N3.4trillion or 29.4% of the N11.4trillion market cap for equities on the main board (as at January 5 2014). The current 9% float gives roughly N306billion and more than the entire Insurance Sector, Construction, Healthcare, Agriculture, ICT respectively. It is even about half of the entire Oil and Gas sector (both upstream and downstream).

Tags: Aliko DangoteManufacturingNigerian Stock ExchangeNSE
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

Related Posts

 Africans will develop Africa, Dangote tells Global CEOs 
Companies

 Africans will develop Africa, Dangote tells Global CEOs 

July 14, 2025
Stock market kicks off September in the red: ASI slips 0.15% amid declining trading volume 
Equities

Nigerian Stocks start July in red as All-Share Index slips 0.2%; Ellah Lakes leads daily volume 

July 2, 2025
Expert reveals “real reason” behind Dangote’s deployment of 4,000 CNG trucks 
Energy

Expert reveals “real reason” behind Dangote’s deployment of 4,000 CNG trucks 

June 28, 2025
Dangote is the pride of Nigeria’s Financial Market, says NGX Group Chairman 
Companies

Dangote is the pride of Nigeria’s Financial Market, says NGX Group Chairman 

June 28, 2025
Dangote targets fertilizer self-sufficiency in Africa within 40 months to boost agricultural productivity
Economy

Dangote targets fertilizer self-sufficiency in Africa within 40 months to boost agricultural productivity

June 27, 2025
Africa is the only continent experiencing growth, Europe needs us to grow — Dangote at AAM2025 
Economy

Africa is the only continent experiencing growth, Europe needs us to grow — Dangote at AAM2025 

June 27, 2025
Next Post

New Year, New Bears: Nigerian All Share Index Shed 2%

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • President Trump issues 50-day ultimatum to Putin, threatens 100% tariffs over Ukraine war 
  • FG to establish National Design and Development Agency to support Nigerian innovators 
  • IGP to arraign Abu Arome, 3 Ghanaians over alleged company document forgery on July 16 

Follow us on social media:

Recent News

President Trump issues 50-day ultimatum to Putin, threatens 100% tariffs over Ukraine war 

President Trump issues 50-day ultimatum to Putin, threatens 100% tariffs over Ukraine war 

July 14, 2025
FG inaugurates 25-member committee to establish Nigerian Education Data Initiative 

FG to establish National Design and Development Agency to support Nigerian innovators 

July 14, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics