…Listing will test investor appetite amid renewed strength in Nigerian equities
Aliko Dangote, Africa’s richest man, added $3.3 million to his wealth on Friday as investors digested news that the long-awaited initial public offering of his group’s refinery will open on September 14.
Data from Forbes’ real-time billionaire tracker showed Dangote’s wealth at $31.5 billion as of September 4, up from $25.6 billion at the end of last year.
Forbes updates billionaire net worth estimates frequently during trading hours, reflecting movements in the value of publicly traded holdings, while privately held assets are reviewed periodically.
The latest increase comes as Dangote Petroleum Refinery prepares for what could become one of the largest equity offerings in Nigeria’s capital-market history as well as the continent.
