Nigeria’s Dangote refinery aims to raise $5 billion with October listing, source says 

5 billion private placement for a 6% stake in the refinery last month gave the business a valuation of around $40 billion, the second source with knowledge of that deal said.

Nigeria's Dangote oil refinery is set for Africa's biggest ever market listing as it seeks to raise about $5 billion through an initial ​public offering expected to conclude in October, a source with knowledge of the plan told Reuters.

The first source said the IPO's target was $5 billion but cautioned that the final figure would depend on what the Nigerian regulator approved, as the primary listing will be on the Nigerian Stock Exchange.