Kenyan investors miss out on Dangote’s Sh200bn IPO

Kenyan investors will miss out on the Sh200.8 billion ($1.55 billion) initial public offering (IPO) of Dangote's oil refinery, which is restricted to the Nigerian domestic market. Local investors were expected to raise up to Sh64.8 billion ($500 million) for a three percent stake in the refinery. This IPO is regarded as the largest in Africa to date.