The Dangote Group has opened talks with Nigeria’s regulator to increase the shares offered in the ongoing Lagos refinery Initial Public offer (IPO) as the issuance faces high demand from both retail and institutional investors.
The IPO, which is Africa biggest ever, seeks to raise Sh207.5 billion and runs between September 14 and October 13 with sale of 4.1 billion ordinary shares, equivalent to just about 3.4 percent shareholding of the Dangote Petroleum Refinery.
