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


Holcim earns Gulf Guardian Award for industrial stormwater management efforts

Holcim, which operates a cement plant in Theodore, Ala, has received the First Place 2015 Gulf Guardian Award in the Business and Industry Category from Environmental Protection Agency's Gulf of Mexico Program for its advanced stormwater management efforts. More

Lafarge submits offer for remaining stake in Greece's Heracles

LafargeHolcim, the world's biggest cement maker, on Friday offered to buy out the shares it does not own in Greek peer Heracles. More

Advertise Here