Dangote Refinery Valued At $39bn Seeks $1bn In Private Placement

Dangote Petroleum Refinery is seeking to raise about $1 billion through a private placement that values the company at $39.1 billion.
According to an Information Memorandum, the refinery is offering three billion ordinary shares at a placement price of $0.35 per share. The transaction is expected to raise approximately $1 billion and has already attracted strong investor interest, with indications suggesting that the offer may be oversubscribed following the close of the indication-of-interest period.
The offer implies a valuation of approximately $39.1 billion for the refinery, making it one of the most valuable privately held industrial assets in Africa. The refinery currently has a...