Nigeria Approves Dangote Refinery IPO
Nigerian regulators approved an initial public offering for the Dangote refinery targeting 1.63 billion dollars. The historic share sale will test investor appetite for the massive industrial project.
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Nigeria's Securities and Exchange Commission approved an initial public offering for Dangote Group's refinery business on Friday, launching an offering that could raise up to $1.63 billion. The share sale tests investor appetite for the 650,000-barrel-per-day facility built on the outskirts of Lagos. The offering represents one of the continent's largest industrial ventures to tap public markets.
