Here’s The Latest On Dangote Cement London IPO
So, Dangote Cement is going global come 2019 when it will be listed on the London Stock Exchange, LSE.
Dangote started nurturing that plan since February this year and plans to raise $1 billion on the London bourse.
Now, reports coming in say two foreign banks - Bank of America Merrill Lynch and Standard Chartered - could be among the banks organising the 2019 London public listing of the Dangote Cement.
This according to Reuters, was disclosed by chairman and CEO of Dangote Group, Aliko Dangote on Monday.
Asked who the bankers could be for the IPO, the billionaire businessman said, “the usual ones...Bank of America Merrill Lynch, Standard Chartered”.
Speaking at the Financial Times Africa summit, Dangote added the listing would go ahead in 2019 after the Nigerian elections, but he could not say when exactly.
Dangote said the fresh capital would enable his cement business to fund expansion plans in sub-Saharan Africa and broaden its base of investors. It sees London as a more favourable place to attract about $1 billion than in Lagos.
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