Follow us on Twitter      

Latest News


Keyword Search

RegionB

Europe / Middle East / Africa

Dangote Cement plans London listing-FT

Apr, 02 2012


(Nigeria/London) -- Africa's richest man Aliko Dangote plans to list his $11 billion cement business, Dangote Cement, on the London Stock Exchange next year, the Financial Times reported in Monday.

Dangote is cited by the FT as saying he intends to free-float a 20 percent stake in Dangote Cement to finance its rapid expansion.

"We want to list in London next year. By then the upside to our business will be much bigger than today," Dangote is quoted as saying.

Morgan Stanley and JPMorgan have been appointed as co-leads for the London share issue, according to the FT.

Dangote is cited as saying the company was on track to meet the corporate governance requirements for a premium listing, and that he would give up his current role as chairman.

Source:

Bookmark and Share
Comments
0 Comment(s)
Add Your Comments


Video: Watch Juha-Pekka prepare a hot dog with a 8.5 ton excavator

Few Independence Day celebrations featured a hot dog chef of this magnitude. Watch Juha-Pekka Perämäki prepare a hot dog with all the fixin’s using a Caterpillar 308 excavator. More

Liebherr adds Florida dealer

International Iron, Apopka, Florida is to sell and service Liebherr earth-moving and material-handling products. More

Advertise Here