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.
Lafarge Canada’s contribution allowed the Burrard Inlet Marine Enhancement Society rebuild the hatchery near Port Moody, British Columbia, that burned down in December. More
D&I Silica of Sheffield a transload sand company, whose permit for a land development in Tunkhannock Township Wyoming County Planning Commission. PA, rejected in July, filed suit against the county. More