51 African Nations Participate in Dangote Refinery’s Initial Public Offer
Firm says subscriptions received from over 90 nations globally Renaissance Capital raises refinery’s valuation by 33.4% to N700 Emmanuel Addeh in Abuja and Peter Uzoho in Lagos Dangote Petroleum Refinery & Petrochemicals yesterday
Dangote Refinery has announced that its Initial Public Offer (IPO) has attracted subscriptions from over 90 nations, including 51 African nations, making it Africa's first truly pan-African public offering. The transaction has rewritten the record books, becoming the largest public offering ever launched in the Nigerian capital market on its opening day and surpassing the previous African record within its first ten days.
The impressive investor response reflects a shared belief that Africans should own the assets that drive industrialisation and share in the wealth they create.
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