By Ghazali Ibrahim
Dangote Cement Plc has suspended plans to list its shares on the London Stock Exchange (LSE), citing prevailing market conditions and the company’s strategic priorities.
The decision means the cement manufacturer will not proceed with its proposed secondary listing and share offering in London for now, despite earlier preparations to attract international investors.
In a regulatory notice filed with the Nigerian Exchange Limited (NGX), the company said it had reached an agreement with its parent company, Dangote Industries Limited, to suspend the proposed transaction.
The notice was signed by the company’s secretary, Edward Imoedemhe.
Dangote Cement had announced plans for the London listing in May 2026 as part of efforts to broaden its international investor base and provide overseas investors with access to its shares.
The proposed transaction was structured as a secondary listing, meaning it would have allowed existing shareholders to offer some of their shares to international investors rather than raising fresh capital for the company.
The company had engaged financial institutions, including Citigroup, JPMorgan Chase and Standard Bank, as advisers for the planned transaction. It also held an investor engagement event in London in September.
However, the company has now decided against proceeding with the plan, pointing to prevailing market conditions and its strategic priorities.
Despite the suspension, Dangote Cement said its shares would remain listed on the Nigerian Exchange, adding that the decision would not affect its business operations.
The company did not announce a new date for the proposed London listing or indicate when it might reconsider the plan.
