Dangote Refinery IPO Targets 10M Retail Investors, $1.6B Raise

Dangote Group plans Africa's largest IPO, raising $1.6B at a $47B valuation for its Nigerian refinery, targeting 10 million retail investors. This could quadruple Nigeria's retail shareholder base, signaling a major capital-markets development in Africa. The success hinges on retail uptake and market conditions, with potential to reshape regional equity markets.