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Shares in Africaโs largest oil refinery went on sale on Monday with the initial public offering of Dangote Petroleum Refinery and Petrochemicals. Owner Aliko Dangote, the continent's richest man, says it's a chance for ordinary Africans to buy in.
NIGERIA ยท MARKETS Key Facts —What happened Dangote Petroleum Refinery signed the offer documents for its initial public offering, or IPO — the first sale of its shares to the public — at a ceremony in Lagos on Monday. —The offer 4.1 billion shares at N525 each (about US$0.40), aiming to raise N2.15 trillion (about […] The post Dangote Refinery Signs IPO Papers, Unveils US$14.3 Billion Plan to Double Capacity appeared first on The Rio Times.
Billionaire Aliko Dangote is seeking to raise $1.6 billion in what would be Nigeriaโs biggest initial public offering, selling shares in the company that operates the continentโs largest oil refinery.