The ÆŠangote Group has unveiled plans to divest a 10% stake in its 20 billion dollars, 650,000-barrel-per-day refinery through a Pan-African Initial Public Offering (IPO) scheduled for 2026. Aliko ÆŠangote disclosed this at an event hosted by the Atlantic Council in Washington DC on Thursday. He said the planned share sale is aimed at supporting long-term investments while boosting participation in Africa’s capital markets. According to him, ÆŠangote Petroleum Refinery and Petrochemicals FZE will pay dividends to shareholders in dollars after listing, although specific financial details of the planned offering…
Read MoreÆŠangote moves to sell 10% refinery stake in pan-African IPO
