The preliminary public providing (IPO) of Nigerian billionaire Aliko Dangote’s oil refinery can be prolonged by means of 10 days to permit traders from different African international locations to take part, an organization government and an adviser at the deal have instructed Reuters.
The IPO opened a couple of month in the past and was once scheduled to near on Tuesday. It goals most people, in the hunt for to lift up to $2.1 billion to fund the refinery’s growth in what is anticipated to be Africa’s biggest proportion sale.
The refinery, owned by means of Africa’s richest guy, Aliko Dangote, targets to develop possession of its 700,000-barrel-per-day refining advanced thru an be offering focused on as much as 10 million retail traders in Nigeria and in other places at the continent.
An adviser at the deal stated an authentic announcement at the extension can be made afterward Monday.
Nigeria’s Securities and Alternate Fee and alternate operator NGX Staff had now not in an instant commented at the deliberate extension.
A Dangote spokesperson declined to remark.
Faridah Abdulkadiri
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