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Dangote Cement Suspends London Stock Exchange Listing, Reveals Reason
The company said market conditions and strategic priorities drove the decision, keeping its shares on the Nigerian Exchange and ending a bid for broader international capital.
- On Tuesday, Dangote Cement announced it has abandoned plans for a debut on the London Stock Exchange. Company Secretary Edward Imoedemhe cited prevailing market conditions as the primary reason for the decision.
- The proposal to list on the LSE first emerged in May 2026, when Dangote Cement was valued at nearly $13 billion. The firm previously preferred London over Dubai, citing a faster listing process.
- Dangote Cement shares closed at N1,469.90 on Monday, November 9, representing a 9.6 per cent increase. The business recently reported profit after tax of 974.8 billion for nine months ending September 30, per the Nigerian Exchange.
- While the cement business paused its London plans, Dangote is pursuing capital through its refinery. In September, the billionaire launched the "People's IPO" for his refinery, designed to give ordinary Nigerians and African investors ownership.
- With operations across 11 African countries and revenues exceeding $3 billion in 2025, Dangote maintains strong industrial standing. The company plans an ambitious $14.3 billion expansion to double refinery capacity to 1.4 million barrels per day by 2029.
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African cement giant Dangote pauses plans for London IPO
A Nigerian cement giant owned by Africa’s richest man has paused its plans for a London IPO after global stock markets plunged in value last week. In an update to the Nigerian Stock Exchange, Dangote Cement said it was not longer pursing a UK listing “at this time”, blaming the decision on “current market conditions [...]
·London, United Kingdom
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Africa's richest pulls his $18 billion cement business from planned London listing as Britain's stock exchange struggles to attract major foreign companies
Aliko Dangote's cement business has shelved plans for a secondary listing on the London Stock Exchange, opting to keep its shares exclusively on the Nigerian Exchange amid challenging market conditions and changing strategic priorities.
·New York, United States
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Coverage Details
Total News Sources14
Leaning Left2Leaning Right1Center4Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 29%
C 57%
14%
Factuality
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