Nigerian billionaire Femi Otedola is reportedly building a position in Dangote Cement, with a target stake of up to 5% in Africa’s largest cement producer.
At Dangote Cement’s closing price of ₦1,111 (82 cents) on October 23, a 5% holding would be valued at approximately ₦936 billion, or about $700 million.Dangote Industries currently owns 86.65% of the cement company, which significantly limits the number of shares available to public investors.As of now, neither Otedola nor Dangote Cement has officially confirmed whether the 5% threshold has been reached.
