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France 24
France 24
Business
Yuka ROYER

Nigeria's Dangote refinery kicks off blockbuster IPO

Cover image: BUSINESS © FRANCE 24

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 exchange. He framed it as a "people's IPO" to give all Nigerians a chance to share the plant's wealth potentials. Trading is expected to start in November. Meanwhile, global oil prices continued to advance as attacks by Yemen's Houthi rebels forced Saudi Arabia to shut down its East-West oil pipeline.

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