Nigerian billionaire Aliko Dangote launched an initial public offering on September 14, 2026, for his Dangote Petroleum Refinery and Petrochemicals in Lagos, seeking $1.6 billion from retail investors across Africa. The $19 billion facility's 4.1 billion new shares represent the continent's largest-ever IPO.
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Nigerian billionaire Dangote launches oil refinery IPO, Africa's biggest share sale reuters.com
Nigerian billionaire Aliko Dangote on Monday launched what is slated as Africa's biggest initial public offering (IPO), which aims to raise $1.6 billion (€1.3 billion) to expand his mega oil refinery to become the world's largest.
Aliko Dangote opened a public offering for 4.1 billion shares in his Lagos-based petroleum refinery on September 14, seeking 2.15 trillion naira, or about $1.6 billion, in what would be Africa’s largest initial public offering. The shares are priced at 525 naira each, with a minimum subscription of 10 shares, and the offer remains open until October 13. Dangote will retain an 87% stake. Sources va
Nigerian billionaire Aliko Dangote says he wants ordinary people to share in the success of his oil refinery.
Nigerian billionaire Aliko Dangote launched an initial public offering on September 14, offering 4.1 billion new shares in Dangote Petroleum Refinery and Petrochemicals at 525 naira each. The sale is expected to raise 2.15 trillion naira, or about $1.6 billion, and could raise roughly $2.1 billion if demand exceeds the base offer and the company exercises a greenshoe option. The subscription perio
Nigerian billionaire Aliko Dangote launched the biggest-ever share sale on the African continent, listing 4.1 billion shares in his Lagos refinery on the stock exchange. He framed it as a "people's IPO" to give all Nigerians a chance to share the plant's wealth potentials. Trading is expected to start in November. Meanwhile, global oil prices continued to advance as attacks by Yemen's Houthi rebel
Africa’s richest man Aliko Dangote on Monday launched an IPO for his $19 billion Nigerian oil refinery, seeking $1.6 billion from retail investors across the continent. The offering values Africa’s largest refinery at about $49 billion and has drawn both strong investor interest and concerns over its high valuation.