The President of Dangote Industries Limited, Aliko Dangote, has said the initial public offering of the Dangote refinery will open within the next 10 to 12 days.
Dangote disclosed this on Thursday while speaking to investors and analysts in Botswana, according to Reuters.
The $20bn refinery, Africa’s largest, is expected to raise about $5bn through the IPO, which could become the largest public offering on the continent.
“So our dream is that we want to make sure we double the capacity of the refinery… which will take us to 1.4 million barrels per day. The IPO will open in the next 10 to 12 days,” Dangote said.
The Lagos-based refinery, already Africa’s largest, hit its full designed capacity of 650,000 barrels per day in February and has since pushed output beyond that mark, touching 700,000 barrels per day in tests.
