Nigeria’s Dangote Refinery, the largest on the continent, is expected in October to seek to raise around $5 billion in Africa’s biggest IPO listing yet, after months of strong earnings, boosted by the disruption caused by the Iran war.For potential investors, the question is whether Dangote, majority-owned by Africa’s richest man, Aliko Dangote, can avoid squeezing its profits […]
The Aramco US$12 billion share sale sold out shortly after the deal opened.
Aramco’s share sale comes at a time when oil prices remain depressed mainly due to concerns about weak global demand.
Details of the split between local and foreign investors in the offering are yet to emerge.
Ades Holding, an oil and gas drilling company backed by Saudi Arabia’s Public Investment Fund, plans to raise up to 4.6 billion Saudi riyals ($1.2 billion) from its initial public offering.