Prime Business AfricaThe non-executive director of Dangote Cement, Olakunle Alake, has marginally increased his stake in the company after purchasing two million shares on July 31.
Alake paid N1.02 billion to purchase two million shares of Dangote Cement to increase his shareholding in the company from 10 million shares or 0.06 percent stake to 12 million shares or 0.07 percent stake.
Join our WhatsApp ChannelPrime Business Africa analysis showed that prior to purchasing the new shares, the 10 million shares held by Alake were valued at N5.09 billion, compared to the N4.78 billion recorded on January 2.
The value of Alake’s shares had appreciated by 6.43 percent after the company’s share price increased by N30.8 kobo, from N478.80 kobo on January 2 to N509.6 kobo on July 30, a day before he bought the shares.
However, following the purchase, the value of the 12 million shares held by Alake in Dangote Cement is now N6.33 billion.
Alake, who is also a vice president in Dangote Industries Limited, holds 7,19 million shares in Dangote Sugar, where he accounts for a 0.06 percent stake.
The value of shares held by Alake in Dangote Sugar is valued at N475.88 million as of August 1, compared to N233.80 million at the beginning of the year, indicating that the director has gained N242.08 million so far this year.
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