NewzNigerian billionaire Aliko Dangote has initiated Africa’s largest share sale to date, offering a 3% stake in his oil refinery to the general public. The initial public offering (IPO) is projected to raise up to $2.1 billion (£1.6 billion).
This move marks a significant financial development for the continent’s industrial sector. By opening equity in the refinery to public investors, the billionaire aims to secure substantial capital through what is currently positioned as the largest share offering in African history.
In-depth summary · AI, neutral