Dangote Cement suspends planned London Stock Exchange listing

Dangote Cement Plc and its selling shareholder, Dangote Industries Limited (DIL), have decided not to proceed with the proposed secondary listing and offering on the London Stock Exchange (LSE) currently, citing current market conditions and the company’s strategic priorities.

The decision was disclosed in a notice filed with the Nigerian Exchange Limited (NGX), signed by Company Secretary, Edward Imoedemhe, following a board meeting held on Tuesday, November 10, 2026.

The company said its ordinary shares would remain listed on the NGX, adding that the decision would not affect its operations or business plans.

Dangote Cement said the decision to halt the proposed London listing was informed by prevailing market conditions and its strategic priorities.

The company did not provide further details on the specific market factors behind the decision or indicate when the proposed transaction might be reconsidered.

The notice reaffirmed Dangote Cement’s commitment to delivering sustainable value to shareholders and building on its market position.

The announcement brings the company’s latest push for an international listing to a halt after several months of preparations.

However, the notice described the decision as applying “at this time,” rather than announcing the permanent abandonment of its international listing ambitions.

It also did not disclose a revised timetable for the transaction. For existing shareholders, the immediate position remains unchanged, as Dangote Cement continues to trade on the NGX.

Dangote Cement’s attempt to secure a London listing began in May 2026, when plans emerged to list the company, then valued at nearly $13 billion, on the LSE within the year.

Nairametrics previously reported plans to offer approximately 10% of the company’s shares to external investors through the London offering estimated to raise about $1 billion.

The latest decision follows earlier delays in Dangote Cement’s international listing ambitions.

An earlier report in 2018 also linked the timing of the proposed listing to that year’s general election. The November 10 announcement therefore represents another postponement in the company’s long-running efforts to access international equity investors through a secondary listing.

Dangote Cement’s suspension announcement comes after a strong period of share-price appreciation on the Nigerian Exchange.

The stock was a major contributor to the NGX’s reported N2.32 trillion market capitalisation gain on November 9.

At the time of the November 10 announcement, the stock’s intraday price was reported as unchanged at N1,469.90 per share.

The company’s decision means the previously proposed international offering will not proceed under the current timetable.

However, the NGX listing remains intact, and the company has said its operations and business plans are unaffected. Investors will be watching for any subsequent announcement indicating whether Dangote Cement intends to revisit the London listing under different market conditions.

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