Nigeria’s Dangote Hopes to Strike Gold in South Africa
The refinery plans to raise $5 billion and could become one of Africa’s largest listings, with Kenya also being considered for regional participation.
- Dangote Refinery is planning a $5 billion initial public offering, with a preliminary filing submitted to the Nigerian regulator targeting an October listing.
- Built by Aliko Dangote at a cost of roughly $20 billion, the 650,000-barrel-per-day facility is Africa's largest, with NNPC holding a stake of just over 7%.
- The Johannesburg Stock Exchange has engaged with the group regarding a potential secondary listing in South Africa, with JSE Chief Executive Officer Valdene Reddy aiming to attract the refinery.
- Regional capital markets may participate, with Kenya potentially raising $500m; the JSE stated, "They will list in Nigeria first but with strong intent to hopefully bring the listing to South Africa."
- Production at the refinery began in 2024, and the facility reached full capacity earlier this year, positioning the company for the anticipated expansion.
11 Articles
11 Articles
Dangote has 'strong intent' for South Africa listing after Nigeria IPO
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The Johannesburg Stock Exchange (JSE) is in talks with the Dangote Group to facilitate a listing of the Dangote Refinery in South Africa after its initial IPO in Nigeria. The post Aliko Dangote Moves to List Refinery in South Africa After Nigeria IPO appeared first on Business Elites Africa.
Billionaire Dangote may list refinery in South Africa after Nigeria IPO
Aliko Dangote's refinery may not stop at the Nigerian Exchange. The Johannesburg Stock Exchange said it has engaged with the Nigerian billionaire's Dangote Group and that the company could list its petroleum refinery in South Africa after a Nigerian initial public offering, a JSE spokesperson said this on Wednesday."They will list in Nigeria first but with strong intent to hopefully bring the listing to South Africa," the exchange said in an ema…
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