Nigeria: Dangote opens its capital to African investors

In Lagos, Aliko Dangote opened the capital of his refinery to African investors, aiming to raise $1.6 billion in what is described as Africa's largest IPO. Retail investors can purchase a lot of ten shares for about four dollars. However, Dangote will retain 87% of the capital, while the refinery is valued at nearly $49 billion. The official listing is scheduled for November.