Dangote refinery launches Africa's biggest-ever IPO
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Neutral summary
Nigerian billionaire Aliko Dangote on Monday opened the order book for the initial public offering of his oil refinery, the largest in Africa's history, aiming to raise $1.6 billion. The month-long sale offers 4.1 billion shares at 525 naira each, with a minimum purchase of 10 shares, and listing is scheduled for November. Dangote called the offering a “historic day” and said it gives ordinary Africans a chance to buy into the project; proceeds will fund an expansion that would double the refinery's capacity. The Guardian estimates the flotation could add $23 billion to his net worth, lifting it from $35 billion to nearly $60 billion, while Kommersant values the 3% stake on sale at $2.1 billion and France 24 puts the company's valuation at about $49 billion.
How it was framed
Outlets: 15. Countries: 9. Facts in the shared core: 4.
Publication timeline
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Premium Times (outlet profile)
Dangote Refinery opens order book for $1.6 billion Africa’s biggest IPO. -The month-long share sale, which is out to sell 4.1 billion shares at N525 ($0.000013) per unit, will run through 13 October, with listing schedu…
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Africanews (outlet profile)
Nigeria's Dangote bills refinery IPO as chance for ordinary Africans to buy in. Shares in Africa’s largest oil refinery went on sale on Monday with the initial public offering of Dangote Petroleum Refinery and Petrochem…
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RFI (outlet profile)
Dangote: pourquoi la raffinerie nigériane entre en Bourse à Lagos. La raffinerie de l'homme d'affaires nigérian Aliko Dangote entre en Bourse ce lundi à Lagos. Plus de quatre milliards d'actions doivent être proposés au…
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Premium Times (outlet profile)
BREAKING: Billions of naira subscribed by investors within minutes of Dangote Refinery’s IPO opening – Official. “With this particular, sterling, historic offer and what I have seen in the data room, where already billi…
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Premium Times (outlet profile)
Dangote Refinery plans US listing in three to four years. “By doing so, because the company will be very, very large, we will be having 10 per cent of the total America’s capacity,” Mr Dangote added. The post Dangote Re…
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Malay Mail (outlet profile)
Nigeria’s Dangote launches US$1.6b IPO, Africa’s biggest, to double oil refinery capacity. LAGOS, Sept 14 — Nigerian billionaire Aliko Dangote on Monday launched what is slated as Africa’s biggest in...
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The Independent (outlet profile)
Africa's biggest oil refinery opens to public ownership, sparking excitement among retail investors. Aliko Dangote, Africa's richest man, is opening a portion of his refinery to public ownership in Africa's biggest init…
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The Guardian (outlet profile)
Africa’s richest man aiming to make $23bn from continent’s biggest-ever IPO. Public offering of Aliko Dangote’s Nigerian oil refinery business could swell his net wealth by two thirds The fortune of Africa’s richest per…
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Premium Times (outlet profile)
Dangote Refinery to give retail investors 1 extra share for every 10 held annually in first two years of listing. According to Mr Eseka, under the retail incentive programme, investors who subscribe for a minimum of 10…
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Tanjug (outlet profile)
Najveća rafinerija u Africi otvorena za javno vlasništvo, veliko interesovanje
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Telegraf (outlet profile)
Najveća afrička rafinerija otvara vrata javnosti: Mali investitori jure akcije - šta Dangote nudi ulagačima?. Nigerijski industrijalac Aliko Dangote otvorio je danas svoju rafineriju za javno vlasništvo, sa planom da od…
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RFI (outlet profile)
Entrée en bourse de la méga-raffinerie Dangote: «Ce projet en fera la plus grande raffinerie du monde». C'est la plus grande introduction en bourse de l'histoire africaine avec l'objectif de lever 1,6 milliard de dollar…
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Politika (outlet profile)
Највећа рафинерија у Африци отворена за јавно власништво. Цена за мале инвеститоре четири долара по акцији, уз минималну куповину 10 акција
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DW (Deutsche Welle) (outlet profile)
Nigeria: What's the real motivation behind Dangote's IPO 'for the people?'. Dangote is seeking $1.6 billion from investors to finance a $14.3 billion expansion and thus double the refinery's capacity. The offer could gi…
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DW (Deutsche Welle) (outlet profile)
IPO 'for the people' is out of reach for many in Nigeria. Dangote seeks $1.6 billion from investors to finance a $14.3 billion expansion and thus double the oil refinery's capacity. The offer could give millions of Nige…
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BBC News (outlet profile)
Africa's richest man launches continent's biggest share sale. Nigerian billionaire Aliko Dangote says he wants ordinary people to share in the success of his oil refinery.
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Africanews (outlet profile)
Dangote refinery opens to public ownership in Africa's biggest IPO. Dangote has defended the figure and plans to expand capacity to 1.4 million barrels per day, potentially making it the world's largest refinery.
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El Economista (outlet profile)
La mayor refinería de África del multimillonario nigeriano Dangote sale a Bolsa. El multimillonario nigeriano Aliko Dangote, el hombre más rico de África, sacó este lunes a bolsa su megarefinería de petróleo en Nigeria,…
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UOL (outlet profile)
Maior refinaria da África abre seu capital na bolsa. O bilionário nigeriano Aliko Dangote, o homem mais rico da África, abriu o capital de sua mega refinaria na Bolsa de Valores da Nigéria nesta segunda-feira (14), com…
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Africanews (outlet profile)
Dangote IPO, DRC fire tragedy and regional developments [Africanews Today]. From Nigeria’s landmark refinery share offering to mourning in the Democratic Republic of Congo and efforts to improve inclusion in Côte d’Ivoi…
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France 24 (outlet profile)
Nigerian oil refinery Dangote aims to raise 1.6 billion dollars. In tonight's edition, Nigeria's Dangote refinery opens itself to public ownership with plans to raise 1.6 billion dollars from retail investors across the…
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France 24 (outlet profile)
Nigeria's Dangote refinery kicks off blockbuster IPO. Nigerian billionaire Aliko Dangote launched the biggest-ever share sale on the African continent, listing 4.1 billion shares in his Lagos refinery on the stock excha…
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France 24 (outlet profile)
Dangote refinery launches Africa’s biggest IPO for retail investors. Africa’s richest man Aliko Dangote on Monday launched an IPO for his $19 billion Nigerian oil refinery, seeking $1.6 billion from retail investors acr…
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Коммерсантъ (outlet profile)
Крупнейший НПЗ Африки выставил на продажу 3% акций за $2,1 млрд. Владелец нигерийского нефтеперерабатывающих завода Dangote, одного из 10 крупнейших НПЗ в мире, миллиардер Алико Данготе предложил широкому кругу инвестор…
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Africanews (outlet profile)
Aliko Dangote hails refinery IPO as 'historic day' for Africans. Africa’s richest man, Aliko Dangote, hailed Monday’s share sale of his Nigerian oil refinery as an opportunity to create value for millions of people acro…
Factual core
- Aliko Dangote, Africa's richest man, owns the refinery.
- The IPO aims to finance a $14.3 billion expansion of the Dangote oil refinery.
- The refinery opening to public ownership is presented as a major opportunity for small investors.
- The deal could raise up to $2.1 billion for the refinery.