IPO: Dangote allays investors’ fears, says crude price swings pose limited risk

The Dangote Petroleum Refinery and Petrochemicals FZE has assured investors that its share sale is backed by a refinery that is already operating and making profits, stressing that shareholders will enjoy significant value appreciation and attractive returns over the long term.
Its Vice President, Mr. Edwin Devakumar, stated this at a media interaction and facility visit of the refinery and petrochemical complex at the weekend.
“The Dangote Refinery is one of the most significant industrial investments ever undertaken on the African continent. It addresses a critical gap in the energy sector while creating substantial economic value. Those investing in the refinery’s ongoing IPO are i...