Dangote Cement Plc has suspended plans to pursue a secondary listing and conduct a share offering on the London Stock Exchange, citing prevailing market conditions and the company’s strategic priorities.
The cement manufacturer disclosed the decision in a notice to the Nigerian Exchange Limited, the investing public and other stakeholders following a meeting of its Board of Directors held on Tuesday, November 10, 2026.
According to the statement, the decision was jointly taken by Dangote Cement and its selling shareholder, Dangote Industries Limited, to put the proposed London listing and share offering on hold.
The proposed transaction was expected to provide the company with an additional listing on the London Stock Exchange, potentially broadening its access to international investors and expanding its shareholder base.
However, the company said the decision to suspend the process was informed by prevailing market conditions and its strategic priorities.
Dangote Cement did not indicate when it might reconsider the proposed listing, leaving the plan on hold as the company focuses on its current priorities.
Dangote Cement is part of the extensive business empire of Nigerian billionaire Aliko Dangote, who launched Africa’s largest-ever share sale in September through the initial public offering of his oil refinery on the Nigerian Exchange.
The cement manufacturer, which currently has a market valuation of N24.79tn ($18.42bn), said its shares would remain listed on the NGX, adding that the decision to suspend the proposed London listing would not affect its operations or business plans.
