Dangote Cement set to list on London Stock Exchange
News & Trends •
according to him all hands are on deck to complete the process of listing the development which he said is being looked towards for by the business community2 dangote cement is already the most capitalised stock on the nigerian stock exchange accounting for about 25 per cent of the value. listed on the exchanges premium board the companys market capitalisation as at october was n3.41 trillion out of the entire n13 trillion value of the nigerian exchange1 dangote spoke during one to one conversation with lionel barber the editor of financial times at the on-going 5th annual financial times african summit1 he told his audience comprising of investors business magnates captains of industry and african heads of government which included president nana akufo-addo of ghana and ali bongo of gabon that the listing might happen in 20191 africas biggest cement producer dangote cement may be listed on the london stock exchange in 20191 asked who the bankers could be for the ipo dangote said the usual onesbank of america merrill lynch standard chartered1 the companys president aliko dangote made this known in london on monday1 the company which began operation in 2007 has manufacturing operations in obajana ibese and gboko1 the obajana plant in kogi state nigeria is the largest in africa with 13.25mta of capacity across four lines. the ibese plant in ogun state has four cement lines with a combined installed capacity of 12mta and the gboko plant in benue state has 4mta. the company dominates cement supply market in nigeria accounting for 66 per cent of market share1 through the investments dangote cement has eliminated nigerias dependence on imported cement and has transformed the nation into a net exporter of cement serving neighbouring countries1 the company also invested almost 3 billion to build manufacturing plants and import and grinding terminals in cameroon congo ghana ethiopia senegal sierra leone south africa tanzania and zambia 1 according to the companys first half year result for this year group revenue hit n482.4 billion1.34 billion up 16.9 per cent1 exchange rate 360naira1 usd1