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Dangote's Nigerian refinery, owned by Africa's richest man, plans an IPO to raise at least $1.6 billion, potentially setting a record for Africa's largest IPO.
Africa's richest man, Aliko Dangote, plans to raise at least $1.6 billion through an initial public offering (IPO) for his mega-refinery in Nigeria to fund its expansion. The share sale is expected to be the largest IPO in Africa's history. Dangote is positioning it as a "people's IPO," aiming to attract millions of first-time investors by setting a minimum holding of $4.
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