General
Dangote delays London Stock Exchange listing
Africa’s richest man, Aliko Dangote, is once again delaying plans to list Nigeria’s second most capitalized company on the London Stock Exchange, rather choosing other options like boosting exports and the Nigerian company’s foreign-exchange reserves in a report credited to Bloomberg.
Dangote Cement Plc, Africa’s biggest producer of building material isn’t expected to attempt a U.K. initial public offering until at least 2023, Temilade Aduroja, Head of Investor Relations, at the Lagos-based company, said by email.
“The London listing is not something which will happen in the short to medium term. We are focused on our export strategy and increasing our foreign-currency revenue,” he said.
Dangote, a major shareholder of Dangote Cement, with a net worth of more than $14 billion has longed for the company to have a secondary London Stock Exchange listing to diversify its holding and gain more leverage to cheaper funds on international markets.
Aliko Dangote said in 2018 that the listing would happen the following year (2019), only for Brian Egan, former Chief Financial Officer, to state that 2020 was more likely.
-
News14 hours ago
Enugu govt plans befitting burial for Mr Ibu, Junior Pope
-
News17 hours ago
Why Bobrisky is not in Kirikiri prison – NCoS official
-
News14 hours ago
Kano police arrest suspects for disrupting inauguration of new commissioners
-
News18 hours ago
NSA laments booming illegal firearms market in North
-
Politics13 hours ago
Zamfara bans officials from radio, TV interviews
-
News11 hours ago
Kastina police foil attack, neutralize suspected bandit
-
Politics17 hours ago
FG places ex-Kogi gov. Yahaya Bello on watchlist
-
News9 hours ago
Kenneth Okonkwo knocks CBN’s forex management amid economic struggles