Dangote targets US$35bn-40bn London listing, Nigeria

Nigerian billionaire Aliko Dangote is targeting a market capitalisation of US$35-$40bn for his cement company when he lists it in London next year, he told Reuters on Wednesday.

"It depends on the market, but it should be something like US$35 to $40bn. We are targeting something like that," Dangote said of the secondary listing in London that is planned for late next year.

Africa's richest man with a cement empire stretching from Senegal to South Africa, Dangote said in an interview at his office in Lagos that Dangote Cement had raised its capacity target to 60Mt a year by 2015 from a previous 50Mt target.

(Source: Reuters)