Dangote Cement halts planned London Stock Exchange listing
Dangote Cement Plc and its selling shareholder, Dangote Industries Limited (DIL), have decided not to proceed with the proposed secondary listing and offering on the London Stock Exchange (LSE) currently, citing current market conditions and the company’s strategic priorities.
The decision was disclosed in a notice filed with the Nigerian Exchange Limited (NGX), signed by Company Secretary, Edward Imoedemhe, following a board meeting held on Tuesday.
The company said its ordinary shares would remain listed on the NGX, adding that the decision would not affect its operations or business plans.
Dangote Cement said the decision to halt the proposed London listing was informed by prevailing market conditions and its strategic priorities.
The company did not provide further details on the specific market factors behind the decision or indicate when the proposed transaction might be reconsidered.
The notice reaffirmed Dangote Cement’s commitment to delivering sustainable value to shareholders and building on its market position.
The announcement brings the company’s latest push for an international listing to a halt after several months of preparations.
However, the notice described the decision as applying “at this time,” rather than announcing the permanent abandonment of its international listing ambitions.
It also did not disclose a revised timetable for the transaction. For existing shareholders, the immediate position remains unchanged, as Dangote Cement continues to trade on the NGX.
Dangote Cement’s attempt to secure a London listing began in May 2026, when plans emerged to list the company, then valued at nearly $13 billion, on the LSE within the year.
Shareholders subsequently authorised the board at the company’s annual general meeting to pursue a secondary listing on the LSE or another recognised international exchange, subject to regulatory approvals.
In July, the company explained its preference for London over Dubai, citing a faster and more practical listing process in the United Kingdom.
On September 2, Dangote Cement announced plans to host a Capital Markets Day in London on September 21 as part of preparations for the proposed offering.
Nairametrics previously reported plans to offer approximately 10% of the company’s shares to external investors through the London offering estimated to raise about $1 billion.
The latest decision follows earlier delays in Dangote Cement’s international listing ambitions.
