Dangote Refinery IPO set for record on African and global demand
African and retail investors have met the fundraising target, with demand from 119 countries threatening to exceed available shares.
News
Follow to see every story about this in your feed.
4 081 stories from 13 South African publishers, refreshed through the day. Every story is the publisher’s own — read it on their site, talk about it here.
Showing matches. Clear
African and retail investors have met the fundraising target, with demand from 119 countries threatening to exceed available shares.
The Botswana depositary receipts are expected to raise $500m towards the refinery’s $1.6bn IPO, which has been extended to 27 October.
For decades, Africa has famously exported its raw crude oil only to buy back expensive, imported refined fuel. That exhausting, money-draining cycle is about to end. The colossal Dangote Refinery