Dangote Plans London Listing for $12 Billion Cement Firm This Year

Aliko Dangote, Africa’s richest person, plans to go ahead with a secondary listing of his cement plant in London this year, a senior executive of the Dangote Industries Ltd. said.

Dangote Cement Plc is listed on the Lagos-based Nigerian Stock Exchange, where its market value has more than doubled over the past 12 months to $12.3 billion. The Financial Times first reported the planned listing after years of speculation. Devakumar Edwin, vice president at Dangote Industries, confirmed the plan in a text message.