Dangote Refinery secures $400 million commitment ahead of $5 billion IPO
Dangote Petroleum Refinery & Petrochemicals FZE has secured a $400 million underwriting commitment from investors ahead of its planned initial public offering (IPO), as the company moves closer to what could become one of Africa’s largest stock market listings. The post Dangote Refinery secures $400 million commitment ahead of $5 billion IPO appeared first on Nairametrics .
Dangote Petroleum Refinery & Petrochemicals FZE has secured a $400 million underwriting commitment from investors ahead of its planned initial public offering (IPO), as the company moves closer to potentially becoming Africa's largest stock market listing. The commitment, disclosed by Bloomberg, comes from Marob Strategies and Consulting DIFC Ltd. and Lilium Capital Group, who have been appointed as co-financial advisers to Dangote Petroleum Refinery & Petrochemicals.
This latest funding commitment follows a $2.5 billion private placement in July, which strengthened the refinery's balance sheet ahead of the IPO and its expansion plans. The $400 million commitment is contingent on the IPO's launch, subject to certain conditions.
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