Dangote Cement Hits N18trn Market Cap. Ahead of London Listing
The stock market value of Dangote Cement Plc.’s 16.873 billion outstanding shares surged to N18 trillion on the Nigerian Exchange (NGX) ahead of its London Stock Exchange (LSE) debut in November.
The cement company’s share price rose to N1,111 on Friday as 163,732 units, valued at N172.713 million, were traded on the local stock market.
Dangote Cement shares are trading 10% below their 52-week high, after peaking at N1,189 following the Q2 earnings release. The market expects the third quarter to drive further re-rating of the cement company’s share on the local bourse.
Last week, Dangote Cement fluctuated before a last-minute rally upturned what would have become a sharp price depreciation. Earlier in the week, Dangote Cement was sold off, and its share price fell to N1008 from N1066.70.
Transaction volume and value were relatively weak until Friday, when buy-side investors ramped up more shares and pushed the cement company to N1,111 from N1,010 on Thursday.
As a result, the cement giant’s market value edged up to N17.999 trillion ahead of the third-quarter earnings announcement for the financial year 2026.
Official disclosure said the board meeting scheduled for October 29, 2026, will now be held on October 27, 2026, to discuss various matters, including the Unaudited Financial Statements for the quarter ended September 30, 2026.
Bloomberg reported that Dangote Cement Plc has picked Goldman Sachs Group Inc. and UBS Group AG as bookrunners for a London listing it’s preparing for November.
The cement company plans to raise about $1 billion through a secondary share sale on the London Stock Exchange. Current owners will sell about 10% of the business, which Africa’s richest man, Aliko Dangote, majority-owns.
