By Bamidele Famoofo
WorldStage– Dangote Sugar Refinery Plc, largest sugar manufacturer in Sub-Saharan Africa, is seeking to raise N485 billion from its existing shareholders through a rights issue.
The Rights Issue is being offered on the basis of Two (2) new Ordinary Shares for every Three (3) existing Ordinary Shares held as at the close of business on 20 April 2026.
The rights issue of 8,097,918,827 Ordinary Shares of 50 Kobo each at ₦60.00 per share is now open and will close on 24 June 2026.
The capital raise is aimed at reducing the company’s leverage position, improving liquidity, and enhancing its capital structure to support long-term sustainability and shareholder value creation.
DSR is a subsidiary of Dangote Industries Limited, is engaged in the refining, distribution, and marketing of granulated sugar to wholesalers and major players within the food and beverage, pharmaceutical, and personal care industries.
The Company operates the largest sugar refinery in Sub-Saharan Africa, with a combined installed refining capacity of 1.49 million metric tonnes per annum. Through its backward integration strategy, it is advancing plans to produce an additional 1.5 million metric tonnes of locally sourced sugar, further strengthening its position as a leading integrated sugar producer globally.
Dangote Sugar Refinery Plc’s financial performance has been volatile the last two years due to FX losses and naira devaluation, but Q1 2026 shows a turnaround.
