Dangote’s fortune hits $51bn after refinery IPO raises N1.5tn on NGX
The President of Dangote Group, Aliko Dangote’s fortune rose to $51 billion after Dangote Refinery’s Initial Public Offering, IPO, officially kicked off at the Nigerian Exchange Limited, NGX. This is according to Forbes data released on Monday. With the revaluation of Dangote’s fortune, Africa’s richest man is now the 36th-richest person in the world. DAILY […] Dangote’s fortune hits $51bn after…
Dangote Group's chairman, Aliko Dangote, has seen his fortune rise to $51 billion following the Initial Public Offering (IPO) of Dangote Refinery, according to Forbes data. With this revaluation, Dangote becomes the 36th richest person in the world. The IPO of Dangote Refinery, which raised N1.5 trillion in its first six hours on the Nigerian Exchange Limited (NGX), aims to raise N2.15 trillion overall to support the company's expansion plans.
The IPO involves 4.1 billion ordinary shares, each valued at $0.000013, with an offer price of N525 per share, targeting 10 million Nigerian investors.
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