Dangote cement taps Goldman Sachs, UBS to drive landmark London listing

Dangote Cement Plc has bolstered the syndicate for its highly anticipated London Stock Exchange debut by appointing Goldman Sachs Group Inc. and UBS Group AG as bookrunners. The strategic move positions Africa’s largest cement producer to target a listing as early as November, aiming to unlock deeper pools of international capital and broaden its institutional shareholder base.

The engagement follows an extensive investor roadshow and Capital Markets Day held in London, where executives laid out the company’s growth trajectory. The cement giant, currently valued at more than $12 billion on the Nigerian Exchange (NGX), is eyeing a capital raise of up to $1 billion through the secondary listing.

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The international roadshow builds on a robust financial performance from the firm. For the six months ended June 30, Dangote Cement reported a 21.4% year-on-year increase in group revenue to N2.51 trillion, while earnings before interest, tax, depreciation, and amortisation (EBITDA) climbed 25.8% to N1.19 trillion. Profit after tax surged 22.7% to N638.5 billion, compared to N520.5 billion over the same period in 2025.

Operating across 11 African nations with an installed production capacity exceeding 55 million tonnes per annum, the company represents one of the continent’s most successful industrial footprints. Management believes a London listing will provide a transparent global valuation benchmark while complementing its primary domestic listing in Lagos.

Athekame Kenneth is a politics, economy, and finance reporter whose work is anchored in sharp investigative storytelling. He brings analytical depth to every piece, drawing on a strong academic foundation that includes a degree in Economics, an MBA in International Trade, and a minor in Petroleum Economics from Lagos State University, Ojo. His reporting blends rigorous research with a keen eye for hidden truths, delivering stories that illuminate power, policy, and the forces shaping everyday lives.