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Dangote Refinery IPO in Nigeria Gets US$1 Billion Backing

Advisers say Nigeria's Dangote Refinery has a US$1 billion underwriting programme behind its planned Lagos listing - US$600 million already funded and US$400 million promised for the IPO itself.

  • Dangote Refinery to list on Nigerian Exchange with $1 billion underwriting
  • IPO aims for $5 billion valuation, largest African share sale
  • Lekki Free Zone refinery operates at 650,000 barrels/day capacity

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