The Initial Public Offering (IPO) for the Dangote Refinery, a subject of significant interest within financial markets throughout the year, is scheduled to launch in the coming days.
Aliko Dangote announced this development on Thursday, outlining a specific two-week timeline to investors and analysts during a visit to Botswana.
He mentioned that the IPO would be open within the next 10-12 days, specifying a major event in Nigeria’s stock market that has been anticipated since the $20 billion refinery was inaugurated.
"So our dream is that we want to make sure we double the capacity of the refinery ... which will take us to 1.4 million barrels per day.
The IPO will open in the next 10 to 12 days," Dangote told investors and analysts in the Southern African country, as seen on Reuters, which also reported that Dangote intends to list the initial public offering for its refinery division at 525 naira ($0.40) per share, which could generate approximately $1.5 billion.
