AELEX plays key role in Dangote Refinery’s $1.5bn IPO

By Henry Ojelu
LAGOS — The approximately US$1.5 billion Initial Public Offering, IPO, of Dangote Petroleum Refinery & Petrochemicals FZE has been completed, with AELEX acting as Solicitors to the Offer in the landmark transaction.
The offering is the largest single IPO undertaken in Africa and the first public offering by a Free Zone Entity, FZE, in Nigeria.
In a statement, the management of AELEX said the transaction marked a significant development in Nigeria’s capital market and provided a new route for large-scale businesses operating under the Free Zone framework to access public capital.
According to the firm, the transaction also builds on its longstanding relationship with...