Dangote Refinery plans US listing in three to four years
5 billion that was eventually raised from the private placement was the original size the refinery aspired to raise from both the placement and the IPO.
Africa’s richest man aims to list his 700,000 barrel-per-day oil refinery, which commenced its initial public offering Monday morning, in the United States in the next three to four years, he told the investing public in Lagos during the Fact Behind the Offer event at the Nigerian Exchange.
The IPO hopes to democratise wealth creation across Africa by allowing the mass market that is dominated by retail investors to own a piece of the cake in the refinery, which is looking to increase capacity twofold by 2030 from the proceeds of the transaction.
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