Dangote Cement halts plans for London listing

Dangote Cement Plc has stopped its plan to list on the London Stock Exchange. The company mentioned current market conditions and its strategic priorities as the main reasons for this decision.

This information came from a regulatory filing signed by Edward Imoedemhe, the company secretary. The filing followed a meeting of the board of directors on Tuesday.

In May, Dangote Cement said it was in early talks about a possible London listing. This listing would have helped the company reach more foreign investors and raise capital.

In July, the company explained that it preferred London over Dubai because the listing process in the UK is faster and more practical.

On Tuesday, the cement producer announced that it will not move forward with the secondary listing. It noted that its shares are still listed on the Nigerian Exchange Group and that this decision will not change the company’s operations.

“The Company’s ordinary shares remain listed on the NGX, and this decision does not in any way affect the Company’s operations or business plans,” Dangote Cement said.

The company stated it will keep focusing on delivering value to its shareholders and strengthening its market position.

Dangote Cement is mostly owned by Africa’s richest man, Aliko Dangote. He recently launched the biggest initial public offering in Africa in September for his oil refinery.

With a production capacity of 55 million tonnes per year, Dangote Cement operates in 11 African countries. These include Cameroon, Ethiopia, Zambia, Tanzania, and Côte d’Ivoire, among others.

The company’s profit for the nine months in 2026 rose by 31 percent. Its revenue reached N3.8 trillion, thanks to better sales of cement and clinker.