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 across the continent. The offering values Africa’s largest refinery at about $49 billion and has drawn both strong investor interest and concerns over its high valuation.
Nigerian industrialist Aliko Dangote opened his refinery to public ownership Monday with plans to raise $1.6 billion from retail investors across the continent in Africa’s biggest initial public offering, or IPO.
