Dangote Cement London Dual Listing
Analysis based on 6 articles · First reported May 07, 2026 · Last updated May 09, 2026
The planned dual listing of Dangote Cement on the Aquis Stock Exchange is expected to significantly boost the Aquis Stock Exchange's competitiveness and attract international investors to Dangote Cement, improving its valuation and access to foreign capital. This move, alongside IPOs for Dangote Petroleum Refinery and Dangote Fertiliser Limited, signals a broader capital market expansion for Dangote Group, potentially lowering financing costs for large African manufacturers and accelerating industrial growth across the continent.
Aliko Dangote, Africa's richest man, is reviving plans for a dual listing of Dangote Cement on the Aquis Stock Exchange by the end of 2026, while maintaining its primary listing on the Nigerian Exchange Group. This move, nearly eight years after an initial attempt stalled, is encouraged by recent reforms to the United Kingdom's listing framework. The proposed transaction, which could see about 10% of Dangote Cement shares offered in London, aims to access deeper global capital pools, attract institutional investors from Europe and North America, and strengthen the company's international profile as Africa's largest cement producer. Advisers including JPMorgan Chase, Citigroup, and Standard Bank are linked to the deal. This initiative is part of a broader capital markets strategy by Dangote Group, which also includes plans for an initial public offering of the Dangote Petroleum Refinery on African stock exchanges and a potential listing for Dangote Fertiliser Limited, which recently raised $750 million through a private bond placement. Dangote Cement also plans to increase its annual production capacity from 60 million tonnes to 100 million tonnes by 2030, focusing on export operations.
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