Uganda approves sale of Dangote refinery shares to domestic investors
Originally published by NTV Kenya — Read the original article →
Uganda’s Capital Markets Authority has approved investors within the East African country to participate in the Dangote Petroleum Refinery’s initial public offering (IPO), a statement on X showed late on Tuesday.
Aliko Dangote, Africa’s richest man, launched a $1.6 billion initial public offering of the refinery in September, to fund a doubling of its capacity to 1.4 million barrels per day. The deal is being marketed as a “people’s IPO” and would be Africa’s largest.
In the statement, Uganda’s state-run Capital Markets Authority (CMA) said it had approved the offer of securities under the IPO of Dangote Petroleum Refinery and Petrochemicals FZE.