Nigerians who bought $4 of Dangote's refinery are calling board meetings online
Nigerians who bought the minimum 10 shares in Dangote's refinery are posting mock ownership certificates and demanding board meetings online. GHOST
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Nigerians who bought the minimum 10 shares in Dangote's refinery are posting mock ownership certificates and demanding board meetings online. GHOST
The Dangote refinery IPO opened on Sept. 14, offering 4.1 billion shares at N525 to raise $1.63 billion. Trading begins on the NGX in November.
Dangote refinery has secured at least 16 million barrels of Nigerian crude for October, roughly 520,000 barrels a day. Feedstock supply is the question facing investors when the $1.55 billion offer opens on Monday.
A new prospectus shows Aliko Dangote holds 87.27% of his oil refinery, putting the fortune of Africa's richest man at $54 billion.
Aliko Dangote signed IPO documents in Lagos on Monday. The offer runs Sept. 14 to Oct. 13, selling 4.1 billion shares at N525 each.
Nigeria's SEC approved the Dangote refinery IPO at 525 naira a share. The 4.1 billion share offer opens Sept. 14 and could raise $1.55 billion.
Aliko Dangote told investors in Botswana that the refinery's IPO opens within 12 days, seeking about $5 billion in what would be Africa's largest.
Bloomberg carries Dangote's refinery at construction cost. Pricing it at what investors paid in July adds $18.5 billion to his fortune overnight.
Goldman Sachs International's co-chief executive toured the Lekki refinery on Wednesday, where Aliko Dangote said his next phase will include acquisitions and new investments.
Dangote's refinery aims to raise $5 billion in an October listing, with exchanges in Kenya, South Africa, Egypt, Ghana and Rwanda seeking a role.
Aliko Dangote's refinery has raised $2.5 billion in Africa's largest private equity placement, valuing it near $40 billion ahead of a planned listing.
Nigeria's pension regulator granted a one-off waiver allowing pension funds to invest in the Dangote Refinery IPO, as Dangote told South African pension chiefs the listing will democratise African wealth.
Aliko Dangote is targeting a $50 billion valuation for his refinery IPO on the Nigerian Exchange in what could be Africa's biggest stock offering ever.
Aliko Dangote is considering listing his refinery on the Ethiopian Securities Exchange as part of a pan-African IPO push that could reshape capital markets across the continent.
Aliko Dangote is preparing a pan-African IPO for his refinery, valued at up to $50 billion, targeting listings across multiple African exchanges as early as June 2026.
NGX Group has convened chiefs of five African stock exchanges in Lagos to advance cross-border listings of the Dangote Refinery ahead of a June-July 2026 IPO on the NGX.