Dangote London IPO and Eurobond would need Board approval

According to Bloomberg, Dangote Cement Plc is potentially reviving plans for an Initial Public Offering sale in London that could raise about US$1bn. The Nigerian company is said to have approached investment bankers to discuss a potential UK listing and issuing a debut Eurobond.

ICR spoke to a Dangote spokesperson who said, "Such corporate actions as Bloomberg reports would require Board approval..." Currently, Dangote claims no such decision has been taken on either matter.