Dangote Refinery launches $1.6B IPO, Africa's largest
-The month-long share sale, which is out to sell 4.1 billion shares at N525 ($0.000013) per unit, will run through 13 October, with listing scheduled for November. The post Dangote Refinery opens order book for $1.6 billion Africa’s bigge
Dangote Refinery has opened a month-long order book for a share sale of 4.1 billion shares at N525 each, targeting roughly $1.6 billion in what would be Africa's largest IPO, with listing set for November. The offering would give the refinery a public equity currency and broaden its investor base beyond the Dangote group, potentially easing future funding needs for expansion and working capital. Its scale and timing will test domestic and foreign appetite for Nigerian energy assets amid currency and refining-margin uncertainty.
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