Aliko Dangote has suspended plans to safe a secondary itemizing for Dangote Cement on the London Inventory Alternate, citing unfavorable market circumstances. In a press release to the Nigerian Inventory Alternate, the corporate stated its board had determined in opposition to continuing with the proposed itemizing for now. Dangote had introduced the plan in Might, in search of to make greater than 10% of the corporate’s shares accessible to worldwide traders. The corporate is at the moment valued at $18.4 billion. The proposed itemizing was supposed to enhance share liquidity relatively than increase contemporary capital. An individual accustomed to the choice attributed the suspension to volatility in fairness markets following latest turmoil surrounding synthetic intelligence shares. The event represents one other setback for London’s efforts to draw main worldwide listings.
