Dangote refinery launches Africa's largest IPO
Nigerian billionaire Aliko Dangote listed 4.1 billion shares of his Lagos refinery, billed as Africa's biggest-ever share sale.
Dangote launched the IPO, framed as a "people's IPO" to allow retail participation in the refinery's wealth potential. Trading is expected to begin in November.
Oil prices advanced as Houthi rebel attacks prompted Saudi Arabia to shut its East-West pipeline.
Sources
- Nigeria's Dangote refinery kicks off blockbuster 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.
Venezuela's PDVSA Signs Energy Cooperation Deal with TotalEnergies Subsidiary
Acting President Delcy Rodriguez oversaw the signing of an agreement between state oil company PDVSA and TotalEnergies E&P New Ventures in Caracas, according to Anadolu Agency.
Ukrhydroenergo expects €21M EIB tranche for hydropower plant repairs
Ukraine's state hydropower operator anticipates the first funding installment from the European Investment Bank to restore equipment and boost operational resilience.
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.
Comments
Loading comments…