Dangote Cement Plc and its selling shareholder, Dangote Industries Limited, have suspended their plans for a secondary listing and share offering on the London Stock Exchange. The decision was announced in a notice filed with the Nigerian Exchange Limited on November 10, 2026, following a board meeting held that same day. According to Nairametrics, the company cited prevailing market conditions and its strategic priorities as the primary reasons for halting the transaction at this time. The filing, signed by Company Secretary Edward Imoedemhe, stated that the company’s ordinary shares would remain listed on the Nigerian Exchange, ensuring that existing operations and business plans would not be disrupted.
Club of Mozambique reported that the postponement was linked to market volatility following the US midterm elections, which had deepened investor concerns regarding the sustainability of the artificial intelligence boom. A person familiar with the matter indicated that the company may revisit the London listing once market stability improves. This setback for the UK bourse comes as the London IPO market remains subdued, with several companies recently abandoning the exchange or being acquired by private equity firms. MyJoyOnline noted that the cement producer, which has a market valuation of 24.79 trillion naira, has explored a London flotation for 15 years, with previous attempts derailed by global downturns and the pandemic.
Premium Times highlighted that Dangote Cement, which has a production capacity of 55 million tonnes per annum, had previously preferred London over Dubai due to a faster and more practical listing process. The company’s nine-month profit in 2026 jumped 31 percent, with revenue reaching N3.8 trillion, yet the international listing was paused. Nairametrics noted that the stock had appreciated significantly, closing at N1,469.90 per share on November 9, representing a year-to-date gain of approximately 141 percent. Despite the suspension, the company reaffirmed its commitment to delivering sustainable value to shareholders, with no revised timetable disclosed for the international transaction.