Africa: Dangote Launches Africa's Biggest IPO With $1.6 Billion Share Sale

The Dangote Refinery Share Offer Is Cheap to Enter and Expensive to Own

Africa's largest share sale opened on 14 September. The minimum ticket is under four US dollars, and analysts say the price is the problem.

Dangote Refinery Launches Africa’s Biggest IPO, Seeks USD 1.6 Billion

Africa’s richest man Aliko Dangote opens refinery ownership to retail investors as the USD 19-billion facility seeks to raise funds through a landmark public offering.

Africa: Dangote Launches Africa's Biggest IPO With $1.6 Billion Share Sale

Dangote Petroleum Refinery opened its initial public offering on September 14, starting a share sale that could raise ₦2.15 trillion, or about $1.6 billion, in Africa's largest IPO. The company is offering 4.1 billion shares at ₦525 each. The offer closes October 13, with trading on the Nigerian Exchange expected to begin in November.

Africa’s biggest oil refinery opens to public ownership

Nigerian industrialist Aliko Dangote opened his refinery to public ownership yesterday with plans to raise US$1.6 billion from retail investors across the continent in Africa’s biggest initial public offering, or IPO.

From schoolyard sweets trader to Africa's richest man, Dangote eyes his biggest deal yet