Nigeria: Dangote Refinery Valued At $39b in Private Placement Ahead of IPO

Dangote Petroleum Refinery is seeking to raise about $1 billion through a private placement that values the company at $39.1 billion, according to an information memorandum seen by Nairametrics.

The refinery is offering 3 billion ordinary shares at $0.35 per share. Investors must subscribe for at least 1 million shares, equal to $350,000, with additional subscriptions accepted in multiples of 500,000 shares. The shares will be subject to a 365-day lock-up period from allotment.

Demand for the…