Nigerian cement giant Dangote Cement says it is considering a possible secondary listing on the London Stock Exchange as part of efforts to expand access to international investors and strengthen its global capital market presence.
In a statement dated May 12, the company said discussions regarding the potential listing remain at an early stage and that no final decision has been taken on the structure, timing or terms of the proposed transaction.
Dangote Cement noted that any move toward a London listing would be subject to corporate approvals, regulatory clearances and prevailing market conditions.
“There is no certainty that the proposed listing will be completed or, if completed, as to the terms or timing thereof,” Company Secretary Edward Imoedemhe said in the statement.
The company added that the proposed secondary listing, if pursued, would help broaden its shareholder base and reinforce its position as a leading pan-African industrial group.
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A London listing could potentially expose Dangote Cement to a wider pool of institutional investors, including pension funds, asset managers and emerging market-focused investment firms seeking exposure to African infrastructure and construction growth.
Dangote Cement is already listed on the Nigerian Exchange and remains one of the most valuable companies on the bourse. The firm operates cement plants and distribution facilities across several African countries and plays a dominant role in Nigeria’s construction materials industry.
The company is part of the broader business empire established by billionaire industrialist Aliko Dangote, whose investments span cement, sugar, fertiliser, oil refining and other sectors across Africa.
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Analysts say a secondary listing in London could improve the company’s international visibility and potentially enhance liquidity in its shares. It may also support future fundraising efforts as the company continues expanding operations across the continent.
The move comes at a time when several African firms are exploring international capital markets to diversify funding sources amid growing investor interest in frontier and emerging markets.
However, market analysts note that companies seeking overseas listings must also meet stricter disclosure, governance and compliance standards demanded by international investors and regulators.
Dangote Cement did not provide further details regarding the size of any potential offering, whether new shares would be issued, or whether existing shareholders would sell stakes as part of the transaction.
The company cautioned shareholders and the investing public to exercise care in trading its securities until additional information is released.
“There is no assurance that the listing will proceed,” the statement indicated, emphasising that discussions remain preliminary.
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The announcement nevertheless signals Dangote Cement’s ambition to strengthen its standing as one of Africa’s leading industrial companies and deepen engagement with global financial markets as it continues pursuing long-term regional growth opportunities.
