Dangote Cement Wins Shareholder Backing for London Stock Exchange Debut

Dangote Cement Wins Shareholder Backing for London Stock Exchange Debut

Quick Reads

* Dangote Cement shareholders have formally approved plans for the company to list its shares on the London Stock Exchange meaning Africa’s biggest cement maker could soon be tradeable by international investors on one of the world’s top exchanges, not just in Nigeria.

* Alongside the listing vote, shareholders approved the highest dividend in the company’s history N45 per share, worth about N753.8 billion in total.

* This isn’t a new idea Aliko Dangote has been trying to list in London since 2018, but the plan kept hitting walls. What’s different now is that the UK has relaxed its listing rules to attract more African companies. September 2026 is the target, with roughly 10% of shares expected to go to international investors.

Dangote Cement to List on London Stock Exchange After Shareholder Vote

Shareholders of Dangote Cement Plc have voted to approve a potential secondary listing of the company’s shares on the London Stock Exchange (LSE), a landmark step for Africa’s largest cement producer as it pushes to deepen its reach in international capital markets.

The resolution was passed at the company’s 17th Annual General Meeting held in Lagos, where shareholders endorsed management’s plan to pursue a Dangote Cement London Stock Exchange listing under the LSE’s international commercial companies secondary listing framework. The approval clears a key corporate hurdle, though Dangote Cement cautioned in May that the listing remains subject to final regulatory approvals, market conditions, and completion of transaction terms. Company Secretary Edward Imoedemhe stated: “There is no certainty that the proposed listing will be completed or, if completed, as to the terms or timing thereof.”

The AGM produced a second headline number alongside the listing vote: shareholders ratified a total dividend payout of approximately N753.8 billion, or N45 per share a 50% increase on the prior year’s N30 and the highest in the company’s history. Chairman Emmanuel Ikazoboh framed the record payout as evidence of the earnings strength underpinning the London ambition. Dangote Cement has now distributed more than N3.3 trillion in dividends over 15 years. Its market capitalisation on the Nigerian Exchange stands at roughly $12.3 billion, following a share price that has more than doubled in the past year.

Aliko Dangote, Africa’s richest person, has mulled a London listing since 2018, with past attempts stalled by strict UK listing rules. What has changed is the UK regulatory environment, now liberalized to attract more African issuers. September 2026 has been cited as a possible target, with around 10% of shares expected to be offered to international investors, subject to final terms.