Dangote Cement Plc is prioritising a secondary listing in London over Dubai, saying the UK market offers a faster and more practical route to raising capital than the Gulf financial hub.
Mariya Dangote, a board member of Dangote Cement, said the company considered Dubai but concluded that the listing process would take considerably longer.
“It’s compatible with our business,” Mariya Dangote said in an interview with Bloomberg. “We thought of the secondary listing in Dubai, but it would have taken us years to list.”
The company, which is already listed on the Nigerian Exchange (NGX), has long pursued plans to broaden its investor base through an international listing. It first announced plans for a London listing in 2011, but the move has yet to materialise.
The renewed push comes as the Dangote Group accelerates expansion across its core businesses, including cement, oil refining, fertiliser and sugar.
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