Dangote Cement targets up to $1 billion raise with London Stock Exchange debut
Dangote Group is preparing a London Stock Exchange listing for its cement subsidiary, aiming to raise as much as $1 billion.
The cement arm of Dangote, valued at $13 billion on the Nigerian market, has been courting investors in London since September. The flotation could bring in up to $1 billion of new capital. The unit, which supplies cement in 11 African nations and posted a post-tax profit of $730 million last year, has pursued a London listing for more than a decade and now expects to complete it this year.
Why it matters
The listing could bring significant foreign capital into Africa’s biggest cement producer and broaden investor access to the continent’s infrastructure sector.
In this story
Dangote CementLondon listingforeign investmentAfrican cement marketinternational investorsstock offering
