Africa’s Billionaire -Aliko Dangote’s owned Cement company, plans to add market capitalization to the London Stock Exchange by 2020 through a listing. This was established in an emailed note with the Nigerian based company owned by billionaire Aliko Dangote. Talks have reached an advance stage with London Banks that will run with the advisory for the debut listing which by now should have made it to the LSE score board.
At the 2018 FT Africa summit in London, owner of Dangote Cement, Aliko Dangote hinted that the usual banks like Bank of America Merrill Lynch, Standard Chartered could be among the official bankers for the London public listing of Dangote Cement.
He also reaffirmed that the process of the London listing was scheduled to commence fully after Nigeria’s general elections in 2019.
The British authorities have also hailed the plan.
In its latest statement, the cement giant said the banks had not yet been selected.
The process is still under consideration. We have been in communication with a number of banks,” the company said.It’s more likely to be in 2020.
The listing of Dangote’s cash cow on London stock has been in the works for over six years.
