Dangote Says Refinery IPO Has Met Funding Target, Eyes 10 Million Shareholders

Aliko Dangote says the Dangote Petroleum Refinery and Petrochemicals IPO has already raised its funding target. He said the next goal is to widen ownership, with the company aiming for up to 10 million shareholders across Africa. Dangote said interest in the offer has come from beyond Nigeria. According to him, the plan is to avoid concentrating ownership among a small group of investors and instead give more people an opportunity to own shares in the refinery.

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