Dangote Refinery opens order book for $1.6 billion Africa’s biggest IPO
Pan-African Refinery Investment SPV, a subsidiary of Lilium Capital Group, underwrote and funded $600 million of the private placement.
It plans to add ten million African retail investors, from cooks and drivers to traders and managers, to its shareholder base at the end of the transaction in a push to drive continent-wide inclusiveness, Mr Dangote told investment bankers and the investing public last week at the signing of the offer documents in Lagos.6 billion initial public offering IPO (IPO), marking the kickoff of the capital-raising programme that is targeting retail investors across Africa.
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