Nigeria’s Dangote Refinery Aims to Raise $5b With October Listing

Dangote Petroleum Refinery plans to raise about $5 billion in an initial public offering that could become Africa’s largest listing, Reuters reported, citing a source with knowledge of the plan. The offer is expected to close in October, with Nigeria’s Securities and Exchange Commission reviewing the application. A prospectus could be published in September, according to people familiar with the process.

The refinery plans to use the funds to expand capacity at its Lagos plant from 650,000 barrels…