Dangote refinery prepares major IPO to fund expansion
Nigeria’s Dangote refinery is preparing to go public in what could become Africa’s biggest-ever share sale, as the company seeks funding to more than double its production capacity.
Built at a cost of around 20 billion dollars, the Lekki-based refinery reached full capacity earlier this year and has become a major supplier of refined petroleum products in Nigeria and across international markets.
The refinery, owned by Africa’s richest man Aliko Dangote, is expected to raise around 1.
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