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Dangote Petroleum Refinery formally submitted an IPO application to Nigeria’s Securities and Exchange CommissionThe SEC director-general said the regulator sees no obstacles that should prevent the planned September listing from going aheadThe application comes days after the refinery closed a $2.5 billion private placement that was 3.7 times oversubscribed
Dangote Petroleum Refinery has filed a formal application with Nigeria’s Securities and Exchange Commission (SEC) to begin the regulatory process for an initial public offering, bringing the company one step closer to what is expected to be Africa’s largest stock market listing.
SEC Director-General Emomotimi Agama confirmed the development saying the refinery’s advisers are already working with company officials and the regulator to move the application forward.
The SEC says it sees no regulatory hurdles as Dangote Refinery advances plans for its highly anticipated public listing. Photo: BloombergSource: Getty Images
He added that the commission does not foresee any delays that could disrupt the
