Dangote Refinery's Global Ambitions: N2.15 Trillion IPO Opens as Dangote Eyes NYSE Listing

Africa's biggest industrial gamble is officially on the table. Dangote Petroleum Refinery's N2.15 trillion initial public offering opened September 14 with 4.1 billion shares priced at N525 each, minimum subscription of just N5,250 for 10 shares. The offer runs through October 13, and the stock is expected to list on the Nigerian Exchange roughly 15 days after closure — making it the largest stock market listing in Africa's history.

The scale is staggering: this...