Nascon Allied Industries Plc has notified the Nigerian Exchange Limited and the investing public that, further to its announcement of August 30, 2023, in respect of the proposed merger of Dangote Sugar Refinery Plc, Nascon and Dangote Rice Limited, a decision has been taken to suspend the said merger at this time.
The suspension is due to the comments and recommendations of the Securities and Exchange Commission (SEC) centered around the current non-operational status of Dangote Rice Limited.
“Nascon wishes to express its appreciation to all its stakeholders and will keep the public informed of any developments as they arise,” the company said.
