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Vetiva Earns Over N110mn From Dangote Cement Share Sale

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Vetiva Securities Limited, the investment bank founded by Chuka Eseka recently sold Dangote Cement Plc shares valued at over N110 million naira.

The sales were done in three separate transactions on November 9, 2020, and November 10, 2020, according to Dangote Cement Plc’s filing with the Nigerian Stock Exchange.

The transactions totaling 613,983 units valued at N111.2 million were executed as follows;

November 9, 2020: 213,983 units at N179.89 per share and 150,000 units at N184.13 per share.
November 10, 2020: 250,000 units at N180.30 per share.
The sales took place as the Nigerian Stock Market geared up for a record gain breaking week, spurred by a lack of attractive fixed-income alternatives.

Dangote Cement Plc closed at N200.00 per share on Friday. YTD the share price is up by 40%. The 52-week high and low prices are N201.90 and N116.00 per share respectively.

Dangote Cement Plc has 17,040,507,405 outstanding shares with a market capitalization of N3.41 trillion, the highest on the Nigerian Stock Exchange.

Vetiva Securities Limited (VSL) was incorporated on May 4, 2005. It is registered by the Nigerian Securities and Exchange Commission (SEC) as a Broker/Dealer and an active dealing member of the Nigerian Stock Exchange. The company provides equities and fixed income brokerage services to a range of retail and institutional clientele.

The company is a subsidiary of Vetiva Capital Management Limited (VCML). VCML is the Group holding company and acts as the operating vehicle for our investment banking business. It also provides corporate and strategic services to subsidiary companies

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