Dangote Cement Africa provides $emissions UK share sale
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Dangote is looking to plans to increase capacity more than fivefold by 2015 to 46.2m tons.?Photo: Alamy
Dangote Cement is said to be look at a London sale of global depositary receipts in the region of $3bn to $5bn, valuing the company at around $20bn.
Goldman Sachs, JPMorgan Chase and Morgan Stanley are helping to prepare the sale, which is reportedly slated for next year.
Lagos-based Dangote raised 13.5bn naira in an initial public offering in October and is looking to plans to increase capacity more than fivefold by 2015 to 46.2m tons. It aims to do this by through investing in Nigeria and other African countries.
Demand for cement in Nigeria, sub-Saharan Africa’s second-biggest economy and the continent’s most populous nation, is expected to rise 45pc this year.
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