{"id":180,"date":"2018-10-09T07:03:00","date_gmt":"2018-10-09T07:03:00","guid":{"rendered":"http:\/\/thefreezoneblog.com\/blog\/2018\/10\/09\/dangote-cement-to-hit-london-stock\/"},"modified":"2018-10-09T07:03:00","modified_gmt":"2018-10-09T07:03:00","slug":"dangote-cement-to-hit-london-stock","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/dangote-cement-to-hit-london-stock\/","title":{"rendered":"Dangote Cement to hit London Stock Exchange"},"content":{"rendered":"
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Africa\u2019s biggest cement producer, Dangote Cement, plans to be listed on the London Stock Exchange in 2019.<\/u><\/u><\/div>\n
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The company\u2019s president, Aliko Dangote made this known in London during the \u201cOne to One Conversation\u201d, with Lionel Barber, the editor of Financial Times\u00a0\u00a0at the on-going 5th annual Financial Times African Summit.<\/u><\/u><\/div>\n
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He told his audience comprising of investors, business magnates, captains of industry and African Heads of Government which included President Nana Akufo-Addo of Ghana and Ali Bongo of Gabon, that the listing might happen in 2019.<\/u><\/u><\/div>\n
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According to him, all hands are on deck to complete the process of listing, the development which he said is being looked towards for by the business community.<\/u><\/u><\/div>\n
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Asked who the bankers could be for the IPO,\u00a0\u00a0Dangote said \u201cthe usual ones\u2026Bank of America Merrill Lynch, Standard Chartered.\u201d<\/u><\/u><\/div>\n
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Dangote Cement is already the most capitalised stock on the Nigerian Stock Exchange, accounting for about 25 per cent of the value.<\/u><\/u><\/div>\n
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Listed on the exchange\u2019s premium board the company\u2019s market capitalisation as at October was N3.41 trillion, out of the entire N13 trillion value of the Nigerian Exchange.<\/u><\/u><\/div>\n
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The company which began operation in 2007 has manufacturing operations in Obajana, Ibese and Gboko.<\/u><\/u><\/div>\n
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The Obajana plant in Kogi state, Nigeria, is the largest in Africa with 13.25Mta of capacity across four lines.<\/u><\/u><\/div>\n
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The Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta and the Gboko plant in Benue state has 4Mta.<\/u><\/u><\/div>\n
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The company dominates cement supply market in Nigeria, accounting for 66 per cent of market share.<\/u><\/u><\/div>\n
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Through the investments, Dangote Cement has eliminated Nigeria\u2019s dependence on imported cement and has transformed the nation into a net exporter of cement serving neighbouring countries.<\/u><\/u><\/div>\n
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The company also invested almost $3 billion to build manufacturing plants and import and grinding terminals in Cameroon, Congo, Ghana, Ethiopia, Senegal, Sierra Leone , South Africa, Tanzania and Zambia .<\/u><\/u><\/div>\n
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According to the company\u2019s first half year result for this year, Group revenue hit N482.4 billion($1.34 billion), up 16.9 per cent.<\/u><\/u><\/div>\n
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Africa\u2019s biggest cement producer, Dangote Cement, plans to be listed on the London Stock Exchange in 2019. The company\u2019s president, Aliko Dangote made this known in London during the \u201cOne to One Conversation\u201d, with Lionel Barber, the editor of Financial Times\u00a0\u00a0at the on-going 5th annual Financial Times African Summit. He told his audience comprising of […]<\/p>\n","protected":false},"author":1,"featured_media":1093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[126],"tags":[66],"class_list":["post-180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade-and-industry","tag-investment","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\nDangote Cement to hit London Stock Exchange - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/dangote-cement-to-hit-london-stock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dangote Cement to hit London Stock Exchange - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"Africa\u2019s biggest cement producer, Dangote Cement, plans to be listed on the London Stock Exchange in 2019. 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