Africa’s richest man aiming to make $23bn from continent’s biggest-ever IPO
- The fortune of Africa’s richest person could swell by two thirds to nearly $60bn (£44bn) after his refinery in Nigeria listed publicly in the continent’s biggest-ever initial public offering.
- If Monday’s flotation of Dangote Petroleum Refinery and Petrochemicals on the Nigerian exchange goes to plan, then Aliko Dangote will add a further $23bn (£17bn) to his $35bn net worth.
- Dangote, who has framed the offering as “an IPO for the people”, hopes it will draw in a broad mix of institutional and retail investors with a minimum subscription of just 10 shares at a cost of 5,250 naira (£2.94).
Unverified
- The fortune of Africa’s richest person could swell by two thirds to nearly $60bn (£44bn) after his refinery in Nigeria listed publicly in the continent’s biggest-ever initial public offering.
- If Monday’s flotation of Dangote Petroleum Refinery and Petrochemicals on the Nigerian exchange goes to plan, then Aliko Dangote will add a further $23bn (£17bn) to his $35bn net worth.
- Dangote, who has framed the offering as “an IPO for the people”, hopes it will draw in a broad mix of institutional and retail investors with a minimum subscription of just 10 shares at a cost of 5,250 naira (£2.94).
Sources: Guardian