Aliko Dangote, Africa’s richest person, has again delayed plans to sell shares in his cement maker on the London Stock Exchange, opting instead to focus on increasing exports and boosting the Nigerian company’s foreign-exchange reserves. Dangote Cement, the continent’s biggest producer of the building material, isn’t expected to attempt a UK initial public offering until at least 2023, Temilade Aduroja, head of investor relations at the Lagos-based company, said by email. “The London listing is not something which will happen in the short to medium term,” he said. Yet for one reason or another he’s never managed to pull the trigger. The controlling shareholder said in 2018 the listing would happen the following year, only for Brian Egan, former chief financial officer, to state that 2020 was more likely.

Source: News 24 October 29, 2020 05:15 UTC