Africa’s largest IPO set to close as Dangote refinery share sale nears end
Offering expected to raise over $2bn and could significantly expand Nigeria's investor base
The Dangote refinery in Nigeria is set to close Africa’s largest initial public offering on Tuesday, wrapping up a 44-day period for investors to bid for a stake in one of the continent’s fastest-rising companies. The share sale, which was extended by two weeks, is expected to raise more than $2bn and may increase Nigeria’s investor base five-fold, according to the head of the Lagos stock exchange.