Dangote Petroleum Refinery extends IPO amid strong investor demand
6 billion initial public offering (IPO), touted as the biggest-ever in Africa, by two weeks to enable more participation across Africa, following robust, continent-wide interest, the company said on Monday.
READ ALSO: How Lafarge tried to “frustrate” Dangote’s cement expansion in Africa – Obasanjo Mr Dangote said in the Monday statement that the IPO has already received subscriptions of “more than three or four times” the amount it set out originally to raise.
The IPO attracted billions of naira within minutes of its opening, while a number of trading platforms, including Bamboo and Cowrywise, experienced downtime on the first day of the offer, overwhelmed by subscription traffic.
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