Dangote Cement Plc has shelved plans to pursue a secondary listing and share offering on the London Stock Exchange (LSE), citing prevailing market conditions and the company’s strategic priorities.
The cement manufacturer announced the decision in a notice filed with the Nigerian Exchange Limited (NGX) on Tuesday, following a board meeting held on November 10, 2026.
According to the company, the decision also applies to its selling shareholder, Dangote Industries Limited (DIL), effectively halting the proposed transaction for the time being.
“The Board resolved that, in light of current market conditions and the Company’s strategic priorities, the Company announces that it and its selling shareholder, Dangote Industries Limited (DIL) will not proceed with the proposed secondary listing and offering on the London Stock Exchange at this time,” the notice stated.
However, the company clarified that the decision would not affect its operations or existing business plans, adding that its ordinary shares would remain listed on the NGX.
“The Company’s ordinary shares remain listed on the NGX, and this decision does not in any way affect the Company’s operations or business plans,” it said.
Dangote Cement also reaffirmed its commitment to delivering sustainable returns to investors and strengthening its position in the market.
The decision comes months after the company revived plans to access the London capital market in May, eight years after an earlier attempt in 2018 failed.
At the time, Africa’s richest man, Aliko Dangote, told the Financial Times that the proposed dual listing would involve selling approximately 10 per cent of Dangote Cement’s shares on the UK exchange.
Preparations for the transaction gathered momentum in September when the company announced plans to host a capital markets day in London on September 21.
The event was designed to provide investors and other stakeholders with updates on the company's business strategy, operations and priorities, while offering an opportunity to engage directly with senior management.
However, the latest announcement brings the planned London listing and associated share offering to a halt, leaving Dangote Cement's shares listed on the Nigerian Exchange.