Dangote Refinery Launches Africa's Largest-Ever IPO
Aliko Dangote's $19 billion Nigerian oil refinery seeks $1.6 billion from retail investors in an offering valuing the plant at roughly $49 billion.
Aliko Dangote, Africa's richest man, on Monday launched an initial public offering for his $19 billion Nigerian oil refinery, according to France 24. The offering seeks $1.6 billion from retail investors across the continent.
The IPO values the refinery, which is described as Africa's largest, at approximately $49 billion, France 24 reported.
The offering has drawn strong investor interest but has also raised concerns among some observers over its high valuation, according to the report.
Further details on the timeline, structure and participating investors of the offering were not immediately available.
Sources
- Nigeria's Dangote refinery launches biggest African IPO — France 24 — English
EGazette summarizes reporting from multiple sources; follow the links for the originals.
Related articles
Dangote Refinery's $1.6 Billion Share Offer Seen as Out of Reach for Many Nigerians
Africa's richest man, Aliko Dangote, is seeking $1.6 billion from investors to fund a major expansion of his oil refinery, but analysts say the offer may be unaffordable for ordinary Nigerians.
37 people die in Nigerian custody; authorities cite possible disease outbreak
Deaths at a Niger state detention facility for illegal miners are under investigation, with officials and observers offering differing explanations.
At least 49 dead in suspected alcohol poisoning in Nigeria's Ondo State
Authorities say locally brewed herbal drink "Monkey Shoulder" containing methanol is suspected source of mass poisoning that has injured 100 others.
Nigerian forces open fire on protesters over deaths of detained miners
Security forces shot at demonstrators rallying against the deaths of 37 miners held in custody.
Nigeria: Investigation Launched After 37 Die in Custody Over Illegal Mining Allegations
Authorities are probing the deaths of 37 people held on suspicion of illegal mining in Niger state, France 24 reported.
Dozens of Suspected Illegal Miners Die in Nigerian Custody
Nigerian authorities attribute the deaths to disease, a claim disputed by intelligence reports and relatives of the deceased, according to the BBC.
Comments
Loading comments…