Investment firm GW Grey Pte Limited has just pulled off a blockbuster cash-out on the Nigerian Exchange Limited (NGX), pocketing N29 billion from a massive sale of Dangote Cement Plc shares.
- +GW Grey pockets N29bn in massive Dangote Cement share offload
The vehicle, tied to Dangote Cement non-executive director Viswanathan Shankar, executed the multi-billion-naira offload on June 8 amid soaring revenues and high-stakes expansion plans for the cement giant.
The vehicle, tied to Dangote Cement non-executive director Viswanathan Shankar, executed the multi-billion-naira offload on June 8 amid soaring revenues and high-stakes expansion plans for the cement giant.
GW Grey Pte Limited sold 34,015,691 units of Dangote Cement shares at N850 per share. At this rate, this share sale by GW Grey Pte Limited represents massive discounts on N1,180 which Dangote Cement Plc closed the same day.
The transaction highlights a tactical liquidity play by billionaire investor Viswanathan Shankar through his primary investment vehicle.
Dangote Cement has experienced a phenomenal rally on the Nigerian Exchange Limited, making it the most valuable company on the local bourse by market capitalisation.
Coming at a time when Dangote Cement continues to dominate Sub-Saharan Africa’s building materials sector and eye secondary listings abroad, this multi-billion-naira share sale marks one of the most substantial institutional divestments on the local exchange this year.
Dangote Cement is actively planning an offshore secondary listing on the London Stock Exchange (LSE).
Billionaire founder Aliko Dangote officially revived this long-standing ambition, targeting September 2026 for the international debut, provided market conditions remain favourable.
The stock opened the year trading at N609 per share. It breached the historic N1,000 threshold for the first time in May and has stabilised at around N1,150 to N1,180 per share.
This represents a massive 93.8 percent increase in stock value since the beginning of January.
Over the trailing 12 months, the stock is up by roughly 168 percent, significantly outpacing the broader industrial goods sector.
Driven by this rapid share price growth, Dangote Cement’s market value has surged to roughly N19.9 trillion, accounting for over 12 percent of the entire equity market on the NGX.
The stock’s bullish run is backed by stellar financials. In first quarter (Q1) 2026, Dangote Cement reported a 56 percent surge in net income to N321.1 billion (up from N211.1 billion in Q1’2025), alongside a 20 percent growth in revenue to N1.20 trillion.
Reflecting its strong cash position, the company increased its final dividend payout by 50 percent to N45 per share (with payment set for early July).
Beyond local earnings, investor sentiment is being highly driven by a major corporate milestone: billionaire Aliko Dangote announced active plans to pursue a dual listing on the London Stock Exchange (LSE), targeting a potential rollout around September, alongside an intention to sell approximately 10 percent of the company’s shares to international investors.
