Dangote Cement Plc has selected London for its upcoming secondary listing because executing share sales on the British exchange will be significantly faster than in Dubai, according to Mariya Dangote, a board member.
“It is compatible with our business,” Dangote stated during an interview in Lagos on Thursday. The conglomerate initially evaluated a secondary listing in Dubai, but concluded that the approval process would have consumed several years.
Expanding Global Footprint
The cement producer, which maintains its primary listing in Nigeria, first floated the prospect of a London flotation in 2011. The enterprise operates under the leadership of Aliko Dangote, Africa’s wealthiest individual.
Simultaneously, the group is organising a share listing for its oil refinery as part of an aggressive expansion strategy. The conglomerate’s sprawling commercial interests encompass building materials, energy, fertiliser, and sugar sectors.
