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Dangote opens Africa’s biggest share sale to raise $1.6 billion for his Lagos refinery.
Aliko Dangote has opened the largest share sale ever held in Africa, offering 4.1 billion new shares in his Lagos refinery to raise 2.15 trillion naira, about $1.6 billion.
The offer
Price: 525 naira a share
Minimum: 10 shares, or 5,250 naira
Open: September 14 to October 13, 2026
Listing: targeted for November
The refinery currently runs at 700,000 barrels a day and plans to reach 1.4 million by 2028, which would make it the largest in the world. A separate private placement has already raised $2.5 billion.
Dangote says the sale is meant to "democratise wealth creation" and that dividends will be paid in dollars. He expects the refinery to be Africa's largest company by the end of the year.
Sources: Channels Television, CNBC Africa
That was a Kibra News Network report, read by an A I voice.
Aliko Dangote has opened the largest share sale ever held in Africa, offering 4.1 billion new shares in his Lagos refinery to raise 2.15 trillion naira, about $1.6 billion.
The offer
Price: 525 naira a share
Minimum: 10 shares, or 5,250 naira
Open: September 14 to October 13, 2026
Listing: targeted for November
The refinery currently runs at 700,000 barrels a day and plans to reach 1.4 million by 2028, which would make it the largest in the world. A separate private placement has already raised $2.5 billion.
Dangote says the sale is meant to “democratise wealth creation” and that dividends will be paid in dollars. He expects the refinery to be Africa’s largest company by the end of the year.
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