Dangote Cement in Early Talks for Potential London Stock Exchange Listing
Dangote Cement Considers Secondary Listing to Attract Overseas Investors
By Elisha Bala-Gbogbo
Company Statement on London Stock Exchange Listing
ABUJA, May 13 (Reuters) - Nigeria's Dangote Cement said it is considering a secondary listing on the London Stock Exchange, a move that could widen its access to overseas investors and capital, although it didn't provide details on the plan's terms or timing.
Preliminary Stage and Conditions
The cement maker said in a statement dated May 12 that it was at a preliminary stage of exploring this listing, adding that any deal would depend on corporate and regulatory approvals, final terms and market conditions.
Uncertainty and Official Statement
"There is no certainty that the proposed listing will be completed or, if completed, as to the terms or timing thereof," Company Secretary Edward Imoedemhe said in the statement.
Potential Impact and Shareholder Advisory
Dangote Cement said the listing, if pursued, would broaden its shareholder base and support its position as a pan-African company.
Advice to Shareholders and Public
It advised shareholders and the investing public to exercise caution in trading the company's securities until it provides further updates.
(Reporting by Elisha Bala-Gbogbo, Editing by Louise Heavens and Bernadette Baum)
