Dangote Refinery raises $2.5 billion in Africa’s largest private equity placement
Join the Premium Times WhatsApp Community For Quick Access To News and Happenings Around You. The company said the proceeds would finance the continued expansion of its refinery and petrochemical complex, strengthen its balance sheet and provide greater financial flexibility to support future growth. Stay Ahead with Premium Times Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting.
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- ▪The company said the proceeds would finance the continued expansion of its refinery and petrochemical complex, strengthen its balance sheet and provide greater financial flexibility to support future growth.
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Add us on Google Dangote Petroleum Refinery and Petrochemicals has raised approximately $2.5 billion in fresh equity after successfully concluding a private placement that was 3.7 times oversubscribed, the company said in a statement on Thursday. Join the Premium Times WhatsApp Community For Quick Access To News and Happenings Around You. Open in WhatsApp The company described the placement as Africa’s largest publicly disclosed primary equity private placement by value, affirming that the transaction resulted in the issuance and allotment of about $2.5 billion in new equity and represents the refinery’s first capital raise involving external investors beyond its existing shareholder base.
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