Dangote Refinery IPO makes history
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By Duncan Miriri and MacDonald Dzirutwe NAIROBI/LAGOS, Sept 14 (Reuters) - More than half a century after launching his business career selling candy to classmates in northern Nigeria, serial entrepreneur Aliko Dangote is preparing the biggest stock market listing Africa has ever seen.
Aliko Dangote plans a US listing for his 700,000-bpd refinery within just four years, as its IPO widens African ownership and capacity targets to double by 2030.
Dangote Group will begin work on its proposed $17 billion oil refinery in Kenya by the end of September, with the facility expected to be completed within three years.
Dangote says strong IPO demand could lead to increased allocations as he seeks millions of retail shareholders across Africa.
The Aliko Dangote IPO is shaping up to be a landmark event in African stock market history as Africa’s richest mogul lists his flagship asset, the Dangote Petroleum Refinery, on the Main Board of the Nigerian Exchange.
The president/chief executive of the Dangote Group, Aliko Dangote, and other prominent African leaders have challenged a new generation of leaders to take
Aliko Dangote urges refinery investors to hold shares long term, says a ₦100,000 investment could reach millionaire value within two years.
Former President Olusegun Obasanjo, Chairman of Dangote Group, Aliko Dangote, Governor Ahmadu Fintiri of Adamawa State, and a host of others rendered tributes as former national chairman of the Peoples Democratic Party,