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Dangote Prices Africa's Biggest IPO at $47 Billion

Started 14 Sept, 17:30 1 events Updated 7h ago
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  1. Economic14 Sept, 17:30

    Dangote Prices Africa's Biggest IPO at $47 Billion

    Iran

    Aliko Dangote launched Africa's largest share sale on Monday, offering 4.1 billion shares of his Nigerian oil refinery at 525 naira each. The offer runs through Oct. 13 and would raise $1.6 billion if fully subscribed, or as much as $2.1 billion if the company exercises its greenshoe option. The sale values the refinery, which processes 700,000 barrels of crude a day, at roughly $47 billion. The refinery has benefited financially from supply disruptions linked to the Iran war, which increased demand for its jet fuel across Africa and Europe. It…

    OilPrice.com – Latest Energy News

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