{"id":2126,"date":"2026-10-28T09:01:32","date_gmt":"2026-10-28T09:01:32","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/28\/dangote-refinerys-ipo-closes-with-investors-from-120-countries\/"},"modified":"2026-10-28T09:01:32","modified_gmt":"2026-10-28T09:01:32","slug":"dangote-refinerys-ipo-closes-with-investors-from-120-countries","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/28\/dangote-refinerys-ipo-closes-with-investors-from-120-countries\/","title":{"rendered":"Dangote Refinery\u2019s IPO closes with investors from 120 countries"},"content":{"rendered":"<div><img loading=\"lazy\" width=\"668\" height=\"490\" src=\"https:\/\/cdn.vanguardngr.com\/wp-content\/uploads\/2025\/04\/Dangote.webp\" class=\"attachment-large size-large wp-post-image\" alt=\"Olokola Seaport Dangote\" decoding=\"async\" srcset=\"https:\/\/cdn.vanguardngr.com\/wp-content\/uploads\/2025\/04\/Dangote.webp 668w, https:\/\/cdn.vanguardngr.com\/wp-content\/uploads\/2025\/04\/Dangote-300x220.webp 300w\" sizes=\"auto, (max-width: 668px) 100vw, 668px\"><\/p>\n<p class=\"wp-block-paragraph\">A Nigerian oil refinery owned by Africa\u2019s richest man Aliko Dangote has closed the continent\u2019s biggest initial public share offering, claiming to have raised funds from investors in 120 countries.<\/p>\n<p class=\"wp-block-paragraph\">The IPO for the Lagos-based Dangote Petroleum Refinery was initially due to close on October 13 but was extended by two weeks to allow more Africans to participate.<\/p>\n<p class=\"wp-block-paragraph\">The company did not disclose how much money was potentially raised by the offering, after saying its target was $1.6 billion.<\/p>\n<p class=\"wp-block-paragraph\">But Aliko Dangote said earlier this month that it had exceeded that goal by\u00a0\u201cmore than three, four times\u201d.<\/p>\n<p class=\"wp-block-paragraph\">\u201cThis is a historic achievement for Africa. It shows what is possible when we believe in our continent, work together and invest in our shared future,\u201d he said in a statement late Tuesday.<\/p>\n<p class=\"wp-block-paragraph\">The massive refinery has a capacity of 700,000 barrels per day and aims to double\u00a0 its output to 1.4 million barrels per day, potentially making it the world\u2019s largest refinery, surpassing the Jamnagar refinery in India.<\/p>\n<p class=\"wp-block-paragraph\">Investors from all 54 African countries and five other continents participated in the offering, the company said.<\/p>\n<p class=\"wp-block-paragraph\">\u201cInvestor applications spanning 120 countries demonstrate the extraordinary international interest in our business and the confidence that investors are placing in the future of this refinery,\u201d Aliko Dangote said<\/p>\n<p class=\"wp-block-paragraph\">\u201cThe opportunity to own a stake in a major African industrial enterprise has reached investors across every African country and all six inhabited continents,\u201d he added.<\/p>\n<p class=\"wp-block-paragraph\">In July, the refinery secured $2.5 billion in investment from private investors.<\/p>\n<p class=\"wp-block-paragraph\">Last month, the company broke ground on a planned $16 billion refinery on Kenya\u2019s Lamu island, with a projected capacity of 700,000 barrels a day.<\/p>\n<p class=\"wp-block-paragraph\">Africa currently imports more than 70 percent of its refined fuel, according to an Africa Finance Corporation (AFC) report in April.<\/p>\n<p class=\"wp-block-paragraph\">\n<p class=\"wp-block-paragraph\">\n<p>The post <a href=\"https:\/\/www.vanguardngr.com\/2026\/10\/dangote-refinerys-ipo-closes-with-investors-from-120-countries\/\">Dangote Refinery\u2019s IPO closes with investors from 120 countries<\/a> appeared first on <a href=\"https:\/\/www.vanguardngr.com\/\">Vanguard News<\/a>.<\/p>\n<\/div>\n<p>Source: <\/p>\n<div class=\"nSourse\">Vanguard News<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A Nigerian oil refinery owned by Africa\u2019s richest man Aliko Dangote has closed the continent\u2019s biggest initial public share offering, claiming to have raised funds from investors in 120 countries.&hellip; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-2126","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/2126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=2126"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/2126\/revisions"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=2126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=2126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=2126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}