Aliko Dangote is launching Africa's largest IPO, targeting 10 million retail investors to raise $1.6 billion at a $47 billion valuation for the continent's biggest refinery.
The company is launching Africa's largest IPO targeting 10 million retail investors, raising $1.6 billion at a $47 billion valuation.
Dangote Refinery has launched a massive retail-focused IPO campaign in Nigeria, aiming to raise $1.6 billion at a $47 billion valuation. The initiative seeks to attract 10 million retail investors, potentially quadrupling the number of active shareholder accounts in the Nigerian market.
The primary goal is to raise $1.6 billion while expanding retail investor participation in the Nigerian stock market by targeting 10 million new shareholders.