<\/p>\n
Dangote Petroleum Refinery and Petrochemicals FZE will list shares on the New York Stock Exchange after doubling the capacity of one of the world\u2019s largest crude refining facilities, its billionaire founder said.<\/p>\n
The facility, which already processes 700 000 barrels of crude a day, is seeking to raise as much as $1.6 billion in an initial public offering in Nigeria, with proceeds earmarked for the expansion. Africa\u2019s biggest IPO, which opened last week, is set to close on 13 October.<\/p>\n
\u201cWe are doing a primary listing in Nigeria and then we will also hopefully list in New York,\u201d Chairman Aliko Dangote said at the Qatar Economic Forum, powered by Bloomberg. \u201cBut that is after we deliver the expansion\u201d to 1.4 million barrels a day by the first quarter of 2029, he said.<\/p>\n
A secondary listing in New York will help the tycoon broaden his investor base beyond Africa. For now, the company is working with banks to open the primary listing to Africans outside Nigeria, having found \u201ca way for them to invest,\u201d said Dangote, the continent\u2019s richest person.<\/p>\n
ADVERTISEMENT<\/p>\n
CONTINUE READING BELOW<\/p>\n
Read:
Dangote\u2019s fortune set to jump $23bn on refinery IPO
Dangote refinery cuts debt to $5.7bn ahead of record IPO
Dangote courts retail investors with $4 entry to record IPO<\/p>\n
Bloomberg previously reported that Lagos-based investment banks including United Capital Plc, FSDH Capital and FirstCap are among the firms wooing investors and approaching regulators and stock exchanges across the continent to act as intermediaries.<\/p>\n
The conglomerate is preparing to break ground on a Kenyan refinery with a capacity of 700 000 barrels a day, underscoring its pan-African ambitions. It is also building pipelines across the continent to supply landlocked countries, Dangote said.<\/p>\n
The group plans to start building a pipeline from Djibouti to Ethiopia, along with tank farms, next week, he said. That follows the company\u2019s recent announcement of a 2,650km pipeline running from Namibia to Botswana and South Africa.<\/p>\n
ADVERTISEMENT:<\/p>\n
CONTINUE READING BELOW<\/p>\n
Read:
Aliko Dangote, investment banks sign Africa\u2019s biggest IPO
Dangote family office gears up as investment hub for his empire<\/p>\n
\u201cBy the time we finish, I am sure we\u2019ll end up with almost 4,000 kilometers of pipelines,\u201d Dangote said. The budget for the southern African pipeline alone is more than $3.5 billion, he added.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Dangote #Refinery #seeks #York #listing #expansion<\/p>\n","protected":false},"excerpt":{"rendered":"
Dangote Petroleum Refinery and Petrochemicals FZE will list shares on the New York Stock Exchange…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[7406,1473,13451,1949,1805,3776],"_links":{"self":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/16573"}],"collection":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16573"}],"version-history":[{"count":0,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/16573\/revisions"}],"wp:attachment":[{"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}