Nigeria SEC approves Dangote refinery IPO worth about $1.63bn
Nigeria’s SEC approved an initial public offering for Dangote Group’s refinery business, officially starting Africa’s biggest-ever share sale. The IPO could raise about ₦2.15 trillion ($1.63 billion) if fully subscribed.
Nigeria's Securities and Exchange Commission has approved an initial public offering of Dangote Group's refinery business, the company said on Friday, formally launching what it described as Africa's biggest-ever share sale. The IPO could raise approximately ₦2.15 trillion ($1.63 billion) if completed.