Dangote Cement mulls London listing after 2019 elections

Dangote Cement PLC is considering listing of its shares in the London Stock Exchange after next year’s general elections in Nigeria.

Group Executive Director, Dangote Industries Ltd, Edwin Devakumar, confirms that the company is working on the proposal to materialise in 2019”.

He said that some banks have approached the company to arrange the initial public offering (IPO), but explained that none had been mandated and decision yet to be taken about how much to raise.

The Cement Company, penultimate week, announced the issuance of its N150 billion commercial paper issuance programme expected to be listed on the fmdq trading platform.

Africa’s largest cement producer, recently announced the issuance of N50 billion series 1 and 2 notes under its 150 billion commercial paper programme, announced on June 27, 2018.

Dangote cement announced a few weeks back that it wanted to raise a ₦300 billion ($833 million) local-currency bond.

The company also plans to raise $500 million via the issuance of a Eurobond.

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