Dangote Refinery IPO gets $1bn underwriting backing from Marob, Lilium

By Udeme Akpan 
Dangote Petroleum Refinery & Petrochemicals FZE, DPRP, has secured $1 billion in underwriting backing from Marob Strategies and Consulting DIFC Ltd and Lilium Capital Group ahead of its planned initial public offering, IPO.
The $1 billion programme comprises a completed and funded $600 million private placement and a $400 million underwriting commitment for the planned IPO.
Marob Strategies and Lilium Capital, appointed co-financial advisers and structuring agents for Global Africa, said the completion of the $600 million private placement marked the first phase of the underwriting programme.
Pan-African Refinery Investment SPV, a subsidiary of Lilium Capital, is t...