adsWhen Aliko Dangote told Femi Otedola, chairman of First HoldCo and a group of senior banking executives touring his world’s largest single-train crude oil processing facility this week, that investors had already submitted purchase requests worth nearly $2 billion for a private placement that hasn’t even launched yet, the disclosure was the boldest economic wager Africa has placed on itself in modern history.
“The IPO that we have right now, there is quite a lot of demand in terms of people disturbing us, pushing us that ‘look, we want to buy,” Dangote told journalists afterwards.
“And that is the reason why we are trying to make sure that by September, we will be out there in the market,’ he added. ”
The planned initial public offering of Dangote Petroleum Refinery and Petrochemicals FZE is targeting a valuation of between $40 billion and $50 billion. The company intends to sell up to a 10 percent stake, which would raise as much as $5 billion in a single transaction.
The planned initial public offering of Dangote Petroleum Refinery and Petrochemicals, targeted for as early as September on the Nigerian Exchange Group, is shaping up to be far more than a landmark corporate event.adsads
