Aliko Dangote, Africa's wealthiest man, smiles during the opening ceremony of Africa's biggest oil refinery in Lagos, Nigeria, Monday, May 22, 2023.
Copyright © africanews
Last updated:
17 minutes ago
Nigeria
Dangote Refinery targets $1 Billion fundraising | Africanews
Nigeria’s Dangote Petroleum Refinery is taking a major step toward becoming a publicly traded company. The refinery is seeking to raise around one billion dollars through a private share placement, in a deal that values the company at roughly 39 billion dollars.
TL;DRAI
Dangote Refinery seeks $1 billion at $39 billion valuation with 2x investor oversubscription for Africa's largest refinery (650,000 barrels/day). Capital funds logistics, storage, and distribution expansion, advancing African supply-chain consolidation ahead of the planned 2026 public listing.
204 words~1 min read
