{"id":45389,"date":"2026-09-14T07:45:54","date_gmt":"2026-09-14T05:45:54","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=45389"},"modified":"2026-10-12T12:45:07","modified_gmt":"2026-10-12T10:45:07","slug":"dangote-launches-oil-refinery-ipo-africas-biggest-share-sale","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/dangote-launches-oil-refinery-ipo-africas-biggest-share-sale\/","title":{"rendered":"Dangote launches oil refinery IPO, Africa&#8217;s biggest share sale"},"content":{"rendered":"<div>\n<p class=\"x_MsoNormal\">Nigerian billionaire Aliko Dangote on Monday launched Africa&#8217;s largest share sale yet with the initial public offering of his \u200boil refinery, opening up ownership of the plant to retail investors \u200cand raising money for its expansion.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">The offer of 4.1 billion ordinary shares at $0.39 each and will close on \u200bOctober 13.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">If fully subscribed, it would raise $1.6 billion, \u200bthough that could rise to roughly $2.1 billion if the \u2060offer is oversubscribed and the company decides to use a greenshoe \u200boption to issue more shares.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">Built at a cost of about $20 billion\u00a0\u200bon the outskirts of Lagos, the refinery has reshaped Nigeria&#8217;s fuel market since it started operations in 2024.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">It supplies most of Nigeria&#8217;s domestically produced gasoline and \u200bhas benefited financially from supply disruptions linked to the Iran war, which \u200bincreased demand for Dangote&#8217;s jet fuel across Africa and in Europe.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">Africa&#8217;s richest man has \u200cmarketed \u2060the offer to ordinary Nigerians, who can participate by buying as few as 10 shares through fintech and other digital investment platforms.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">&#8220;There is no segregation on who can own these shares. We want \u200beveryone, to own a \u200bshare,&#8221; Dangote \u2060said at a signing ceremony last week.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">The refinery processes 700 000 barrels of crude a day and hopes \u200bto raise that to 1.4 million barrels by \u200b2029. The \u2060offer values the plant at about $47 billion, according to Reuters calculations.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">Dangote has said he expects interest in the IPO to mirror a private \u2060placement \u200bin July that was 3.7 times oversubscribed.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">&#8211;Reuters&#8211;<\/p>\n<\/div>\n","protected":false},"featured_media":23183,"template":"","meta":{"_acf_changed":false,"_members_access_role":[],"_members_access_error":"","_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-45389","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"","published_date":"","news_description":"Nigerian billionaire Aliko Dangote","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/45389","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/45389\/revisions"}],"predecessor-version":[{"id":45391,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/45389\/revisions\/45391"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/23183"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=45389"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=45389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}