Dangote Cement has put its planned secondary listing on the London Stock Exchange on hold. The Nigerian cement producer’s board decided on Tuesday, 10 November 2026, not to proceed for now with the listing and share offering contemplated alongside selling shareholder Dangote Industries Limited, according to a notice filed with the Nigerian Exchange (NGX).
The board cited prevailing market conditions and the company’s strategic priorities. The transaction would have created a second trading venue for Dangote Cement shares while allowing the shareholder to offer part of its holding to investors. It was intended to give international investors another route into one of Nigeria’s major listed industrial companies.
The decision comes four months after shareholders authorised the proposal. At the annual general meeting on 2 July, they empowered the board to explore a London listing or another international exchange, subject to regulatory approvals, together with a possible share sale by the majority shareholder. The company had disclosed its interest in a London transaction earlier in the year.
Reuters valued Dangote Cement’s Nigerian market capitalisation at around 24.79 trillion naira, or $18.4 billion, on 10 November. The scale of the business underlined the significance of a potential additional listing that would have broadened its international capital-market presence.
Dangote Cement’s ordinary shares remain listed on the NGX. In the notice signed by company secretary Edward Imoedemhe, the cement producer said the decision leaves its operations and business plans unchanged.