🇳🇬 Dangote Refinery’s IPO drew applications for about 5.85 trillion naira ($4.1B), nearly three times the amount it sought to raise, in Africa’s largest public offering to date, according to Bloomberg, citing people familiar with the matter. Reuters earlier reported orders of about 6.4 trillion naira from Nigerian investors.
The company offered 4.1 billion shares at 525 naira each to raise about 2.15 trillion naira ($1.6B), with applications from 119+ countries including all 54 African nations. With such demand, allotments are expected to be scaled back for large applications.
Big IPO demand shows strong appetite for African energy assets. Next, watch the allotment and the first trading day.
Does global demand like this make you more interested in African markets? 👇
#Dangote #IPO #stocks
Not financial advice. Sources: Bloomberg, Reuters
$BTC
The company offered 4.1 billion shares at 525 naira each to raise about 2.15 trillion naira ($1.6B), with applications from 119+ countries including all 54 African nations. With such demand, allotments are expected to be scaled back for large applications.
Big IPO demand shows strong appetite for African energy assets. Next, watch the allotment and the first trading day.
Does global demand like this make you more interested in African markets? 👇
#Dangote #IPO #stocks
Not financial advice. Sources: Bloomberg, Reuters
$BTC
