Dangote Cement Plc has said it is considering a potential secondary listing on the London Stock Exchange (LSE) as part of efforts to deepen its access to international capital markets.
The company disclosed the development in a statement to the investing public on Wednesday, signed by its Company Secretary, Edward Imoedemhe, following an emergency board meeting.
According to the company, the proposed listing is at a preliminary stage and would fall under the international commercial companies’ secondary listing framework.
It said the move, if pursued, is aimed at strengthening its global profile and expanding its investor base.
It stated that the plan would also support its long-term growth strategy.
“The proposed listing, if pursued, is intended to deepen the Company’s access to international capital markets, broaden its shareholder base, and further strengthen its position as a leading pan-African enterprise,” the company said.
However, it stressed that the transaction remains subject to corporate approvals, final agreement on terms, regulatory clearances, and market conditions.
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It added that there is no certainty the listing will proceed or, if it does, what the final terms or timing will be.
The company advised shareholders and investors to exercise caution when trading its securities until further updates are provided.
“We will continue to update the market as the process progresses and all regulatory requirements are met,” Dangote Cement added.
The potential London listing comes as Dangote Cement continues to operate in a highly complex environment across multiple African markets.
The company has business operations in countries including South Africa, Ethiopia, Tanzania, Zambia, Senegal and Cameroon, exposing it to different regulatory systems, currency volatility and varying economic conditions.
Some markets, such as Sierra Leone, have been classified as hyperinflationary, requiring special accounting treatments.
In its latest audited financial statements, the company’s independent auditors noted the need to assess possible impairment on about ₦252 billion invested in subsidiaries, some of which are currently loss-making and rely on financial support from the parent company.
The group also disclosed contingent liabilities of approximately ₦457.4 billion tied to ongoing legal claims and disputes, highlighting additional financial risks within its operations, Pinnacle Daily reported.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X