Femi Otedola Targets 5% Stake in Dangote Cement Shares

Billionaire investor Femi Otedola is reportedly buying shares in Dangote Cement, targeting a 5% stake in the company. This comes as Dangote Cement shares experienced a 10% increase on a Friday, closing at N1,111, with a market capitalization of approximately N18.7 trillion.

Sources indicate that Otedola's purchases may reflect his strategy of investing in companies he perceives as undervalued, and he currently has cash available for such investments. Dangote Industries owns 86.65% of Dangote Cement, which has a free float of less than 10%.

Otedola's renewed interest follows his previous acquisition of shares in 2024 when he expressed confidence in the company's export potential, dividend record, and corporate governance. While the reported purchases and their impact on the stock price remain unverified, they coincide with a recovery in share prices after earlier declines.