Dangote Cement Plc has shelved plans for a secondary listing on the London Stock Exchange (LSE), opting to retain its exclusive stock market presence on the Nigerian Exchange Limited (NGX) for now.
The decision followed prevailing market conditions and the company’s strategic priorities, marking a setback for the London bourse, which has struggled to attract major new listings amid growing competition from other international financial markets.
In a regulatory notice filed with the NGX on Tuesday, November 10, 2026, the cement manufacturer said its board had resolved that the company and its selling shareholder, Dangote Industries Limited, would no longer proceed with the proposed secondary listing and share offering in London at this time.
The company, however, did not rule out the possibility of reconsidering the proposal in the future.
Dangote Cement’s market valuation stood at approximately $18.4 billion, equivalent to about ₦24.79 trillion, at the time of the announcement.
In May 2026, Africa’s richest industrialist, Aliko Dangote, disclosed that the company was holding preliminary discussions about a potential London listing.
The proposed transaction was expected to broaden the company’s international investor base, improve access to global capital markets and provide an additional platform for international investors to trade its shares.
However, the board’s latest decision means the company will maintain its listing on the Nigerian Exchange, where its shares have been publicly traded since 2010.
Dangote Cement assured shareholders and other stakeholders that the decision would not affect its operations or existing business plans.
The development comes amid persistent challenges facing the London Stock Exchange in attracting major corporate listings, as several companies have reconsidered their presence on the UK market.
