Dangote jokes over shareholder memes, announces 2028 fertiliser IPO
Aliko Dangote has confirmed plans for a Dangote Fertiliser IPO in 2028 while joking about social media memes from new refinery shareholders. Read More: https://punchng.com/dangote-jokes-over-shareholder-memes-announces-2028-fertiliser-ipo/
Aliko Dangote, Africa's wealthiest individual and founder of the Dangote Group, addressed the demand from new Nigerian shareholders for a board meeting during an interview at the Qatar Economic Forum. Dangote clarified that his businesses are run independently without partners, but they are seeking numerous investors to become partners.
He playfully acknowledged the social media trend among Nigerians who recently invested in the Dangote Petroleum Refinery, joking that they had been requesting a board meeting. Dangote confirmed that the fertiliser business would also be listed, and stated that the company will be the largest fertilizer producer in the world upon its IPO in 2028.
The fertiliser business operates a $2.5bn plant in Lagos with the capacity to produce 3 million tonnes of urea annually, and the group plans to expand production to 12 million tonnes by 2028.
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