Aliko Dangote launches Africa’s largest share sale for his Nigerian oil refinery
Nigerian billionaire Aliko Dangote has launched the continent's biggest initial public offering to sell a stake in his oil refinery on the Nigerian exchange.
Investors can buy shares online
The flotation allows ordinary Nigerians to purchase a minimum of ten shares at a cost of 5,250 naira. The subscription period for this offering runs for one month and finishes on 13 October.
Refinery supplies most national energy
The facility started production in 2024 and currently provides more than 70 percent of Nigeria's energy consumption. It is described as one of the largest refineries in the world after taking over a decade to complete.
Experts warn on share risks
Business experts caution that share prices could fall and investors might lose some money. They advise first-time buyers not to invest funds needed for the next few months.
2 outlets, different leads
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The Guardian
Africa’s richest man aiming to make $23bn from continent’s biggest-ever IPO
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BBC News
Africa's richest man launches continent's biggest share sale
Reported by
2 independent outlets. Headlines as published. Links open the original report.