Dangote Launches Refinery IPO, Says He Wants to Create Wealth for Others
Aliko Dangote has launched the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals on the Nigerian Exchange in Lagos. He said he would rather be known for creating wealth for others than simply being called Africa’s richest man. According to him, the IPO gives Nigerians and other Africans an opportunity to own a stake in a business he described as important to Nigeria’s and Africa’s economic future. The offer comprises 4.1 billion ordinary shares priced at ₦525 each. It is the first refinery listing on the Nigerian stock market, opening a potential investment route for eligible investors interested in the company.
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