Dangote refinery's $1.6bn IPO closes, drawing investors from across Africa

Africa's biggest initial public offering has closed after securing its full $1.6 billion target, drawing investors from across Africa to what Aliko Dangote calls 'The People's IPO'. The offer had already met its fundraising goal with fully funded commitments from Nigerian and retail investors, setting up a likely allocation squeeze as international investors raced to secure a stake in the refinery business.

Detected & updated continuously · Source: Nebula