Dangote Reports High Demand for Refinery IPO
Aliko Dangote reports overwhelming investor demand for the Lagos refinery initial public offering. Meanwhile, construction on a new sixteen billion dollar refinery project in Kenya is set to begin.
Xurve View
Insights:
Xurve View
Aliko Dangote said on Tuesday investor demand for his ongoing Lagos refinery share sale is enormous, as the Nigeria billionaire presses ahead with a $16B refinery project in Kenya. The $1.6B initial public offering aims to double Lagos processing capacity to 1.4 million barrels per day. The offering marks Africa's largest share sale, structured as a retail-focused peoples IPO closing on October 13.
