African cement giant Dangote pauses plans for London IPO

Dangote Cement has paused plans for a London listing, citing market conditions and its strategic priorities after a global sell-off in shares. The decision removes the prospect of a major new London Stock Exchange debut at a time when the bourse has struggled to attract listings and retain companies.

The Lagos-listed company had been considering a dual listing valuing it at $19 billion (£14.2 billion), intended to improve shareholder liquidity rather than raise fresh funds. It operates in 11 countries and is controlled by Aliko Dangote. The company said the pause would not affect its operations or business plans.