Dangote Refinery Extends $1.6bn IPO to October 27

Dangote Petroleum Refinery and Petrochemicals has extended the application period for its initial public offering (IPO) by two weeks to October 27, citing strong investor interest across Africa and efforts to widen access to the share sale, Reuters reports.
The company said on Monday that the Securities and Exchange Commission (SEC) had approved the extension. The offer opened on September 14 and was due to close on October 13.
The refinery, owned by Africa’s richest man, Aliko Dangote, is seeking to broaden ownership of its 700,000-barrel-per-day complex. The offer targets up to 10 million retail investors in Nigeria and elsewhere on the continent.
The IPO aims to raise about $1.6 ...