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Uganda’s markets regulator has opened Aliko Dangote’s $1.6 billion refinery IPO to high-net-worth and professional investors, days before the offer closes on Oct. 13.
Ndegwa, the former chairman of the Capital Markets Authority and son of the late Kenyan economist Philip Ndegwa, is a top figure in the Kenyan business scene.
The move coincides with efforts to resolve litigation that has clouded Limuru Tea’s future.
The Central Bank of Kenya announced the acquisition.