Dangote Cement Plc has suspended plans to list its shares on the London Stock Exchange, citing prevailing market conditions and the company’s strategic priorities.
Gatekeepers News reports that the decision was announced on Tuesday, November 10, 2026, following a meeting of the company’s Board of Directors.
In a regulatory notice filed with the Nigerian Exchange Limited (NGX), the company said it and its parent company, Dangote Industries Limited, would no longer proceed with the proposed secondary listing and share offering in London for now.
The notice was signed by Edward Imoedemhe, the company’s secretary, who said the board reached the decision after reviewing prevailing market conditions and its strategic priorities.
The proposed London listing was expected to involve the sale of more than 10 per cent of the company’s shares, providing existing shareholders with access to international investors and a wider market.
The plan was part of efforts by the company to expand its global investor base and improve access to international capital markets.
Dangote Cement had earlier announced plans to engage investors in London through a capital markets event held on September 21, 2026, as part of preparations for the proposed listing.
The company had also reportedly engaged international financial institutions, including Goldman Sachs and UBS, to support the transaction.
However, reports indicated that volatility in global financial markets, following developments surrounding the United States midterm elections and concerns over technology stocks, contributed to the decision to suspend the plan.
According to Reuters, the company could reconsider the London listing when market conditions become more stable.
Despite the development, Dangote Cement said its ordinary shares would remain listed on the Nigerian Exchange and stressed that the decision would not affect its operations or existing business plans.
The company, valued at approximately 24.79 trillion naira, or 18.4 billion dollars, is one of Africa’s largest cement producers, with operations across 11 countries.
The development represents a setback for the London Stock Exchange, which has faced challenges attracting major new listings amid increased market volatility and competition from other financial centres.
