Business
Dangote Group Launches Historic IPO to Fund Expansion into Ethiopia and Africa
Capital Ethiopia · 3 weeks ago · Read the Full Story on Capital Ethiopia
AI SUMMARY
Dangote Industries Limited has launched preliminary activities for a historic multi-trillion Naira IPO to fund its global expansion plans, including projects in Ethiopia.
- Dangote Industries Limited has officially commenced preliminary activities for what is expected to be the largest IPO in the history of the African capital market.
- The transaction aims to raise over 2.15 trillion Naira at an introductory price of 525 Naira per share, valuing the refinery at nearly $49 billion.
- To encourage broad-based retail participation, the minimum subscription is set at just 10 shares, valued at 5,250 Naira (approximately $4).
- The offering comprises 4.1 billion ordinary shares, with the public offer running from September 14 to October 13, 2026, followed by a listing on the Nigerian Exchange in November.
- Proceeds will be deployed to double the refinery's capacity to 1.4 million barrels per day by 2028, making it the world's largest refinery.
- The group's comprehensive strategy outlines industrial expansion plans extending into Ethiopia, Kenya, Tanzania, and Namibia.
- Dangote Group has previously offered East African nations a 30 percent equity stake, valued at approximately $1.5 billion, in its planned Lamu refinery project.
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