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Nigerians Invest in Dangote Refinery Stock
Nigerian billionaire Aliko Dangote has launched Africa's largest share sale, offering a stake in his oil refinery to the public in a deal that could raise up to $2.1 billion. The IPO covers about 3% of the refinery, which became operational in 2024 and supplies over 70% of Nigeria's energy needs. The sale aims to raise funds to double the refinery's capacity, with the IPO lasting a month and a minimum purchase of 10 shares.
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