NIGERIA · MARKETS
Key Facts
—Up to US$5 billion: A public offer of 5% to 10% would be the largest in Nigerian capital-market history. The refinery has been valued at US$40 billion to US$50 billion.
—The index it is joining: The NGX All-Share stood near 247,000 points entering August, with market capitalisation of about 158.3 trillion naira. The refinery is to become an index component alongside Dangote Cement and BUA.
—What is being sold: Pension fund administrators and asset managers have been selling tier-one banks, MTN Nigeria, Airtel Africa and Dangote Cement. The proceeds are earmarked for subscriptions.
