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


Engineering Aggregates plans sand and gravel pit for Walton, Indiana

Logansport, Indiana-Based based Engineering Aggregates is seeking the special exception to allow for a sand and gravel pit and some variances from developmental standards More

A natural concrete made of hemp

Hempitecture, A US design and building material innovation company. is striving to create more awareness for hempcrete, concrete made of hemp More

Advertise Here