Dangote aims $40 billion listing on London Stock Exchange Reviewed by Momizat on . The Chairman of Dangote Cement, Aliko Dangote has revealed that he is targeting a market capitalisation of $35-40 billion for the cement company, when he lists The Chairman of Dangote Cement, Aliko Dangote has revealed that he is targeting a market capitalisation of $35-40 billion for the cement company, when he lists Rating:
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Dangote aims $40 billion listing on London Stock Exchange

The Chairman of Dangote Cement, Aliko Dangote has revealed that he is targeting a market capitalisation of $35-40 billion for the cement company, when he lists it on the London Stock Exchange next year.

Aliko Dangote, President and Chief Executive of Nigeria's Dangote Group speaks during the final session of the World Economic Forum on Africa meeting in Cape Town June 6, 2008.

The money will be used to pay off investors including himself, he revealed in an interview on Wednesday.

“It depends on the market, but it should be something like $35 to $40 billion dollars. We are targeting something like that,” Dangote said of the secondary listing in London that is planned for late next year.

Dangote cement as at the end of 2011, was the most capitalised company on Nigerian Stock Exchange at N1.716 trillion.

Mr Dangote also revealed that Dangote Cement had raised its capacity target to 60 million tonnes a year by 2015 from a previous 50 million tonne target.

The business mogul, who was recently named the richest man in Africa, owns a cement empire stretching from Senegal to South Africa.

He commissioned the largest cement plant in Africa on Monday, located in Obajana, Kogi state, with a production capacity estimated at 20 million tonnes per annum.

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  • Adefala Azeez Adebowale

    Humm!!! investment in deed yet no social economy pay back on our roads.I am yet to hear that dangote company construct so and so road.if there’s one pls let discuss it. 

    • Anayouchegbu

       Mr. Adefala..Dangote gave Bank of Industry N100b to give to small and medium scale enterprises. Without holding brief for him, he is not the government. Ask elected officials to construct your road for you…which is their job

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