Dangote Cement suspends planned London Stock Exchange listing

Dangote Cement Plc has suspended its plans for a secondary listing and share offering on the London Stock Exchange, according to Nairametrics. The company cited prevailing market conditions and strategic priorities as the reasons for the decision, BusinessDay reported. The Whistler stated the shelved transaction was valued at $1bn. The company disclosed the decision in a notice to the Nigerian Exchange Limited on Tuesday, following a board meeting, Daily Post said.

What we know

• Dangote Cement Plc suspended its planned London Stock Exchange listing.
• The company cited prevailing market conditions and strategic priorities.
• The proposed transaction was valued at $1bn, according to The Whistler.
• The decision was disclosed in a notice to the Nigerian Exchange Limited on Tuesday.

Sources

1. BREAKING: Dangote Cement suspends planned London Stock Exchange listing – Nairametrics, 17 h ago
2. Dangote Cement calls off planned London Stock Exchange listing – BusinessDay, 17 h ago
3. BREAKING: Dangote Cement suspends planned London Stock Exchange listing – Technext, 16 h ago
4. Dangote Cement Shelves Proposed $1bn London Stock Exchange Listing – The Whistler, 16 h ago
5. Dangote Cement Shelves Proposed London Listing – Business Post, 15 h ago
6. Dangote Cement Shelves London Stock Exchange Listing Plan – Leadership, 15 h ago
7. Dangote Cement suspends London Stock Exchange listing, reveals reason – Daily Post, 14 h ago
8. DIL Shelves Dangote Cement’s Proposed London Listing – New Telegraph, 14 h ago
9. Dangote Cement suspends proposed London listing – Premium Times, 13 h ago
10. Market conditions: Dangote Cement rescinds plan to list shares on London Stock Exchange – Vanguard, 1 h ago

Updates

• 11 Nov, 07:47 WAT – Now also reported by Vanguard
• 10 Nov, 22:06 WAT – No longer developing - story consolidated
• 10 Nov, 18:58 WAT – Now also reported by Premium Times
• 10 Nov, 18:14 WAT – Summary updated with new reporting
• 10 Nov, 18:09 WAT – Now also reported by Daily Post
• 10 Nov, 17:58 WAT – Now also reported by New Telegraph
• 10 Nov, 16:57 WAT – Now also reported by Leadership
• 10 Nov, 16:55 WAT – Summary updated with new reporting
• 10 Nov, 16:54 WAT – Now also reported by Business Post
• 10 Nov, 16:02 WAT – Story published - 4 outlets

This page groups reports from the outlets above; headlines belong to their publishers. Summary written by our automated desk from multiple reports. How we work.

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