World
Africa's richest man launches continent's biggest share sale
Nigerian billionaire Aliko Dangote says he wants ordinary people to share in the success of his oil refinery.
BBC World•
Nigerian billionaire Aliko Dangote has launched Africa's largest ever share sale, offering a stake in his oil refinery to the general public in a deal that could raise as much as $2.1bn (£1.6bn).
The initial public offering (IPO) is for roughly 3% of the Dangote refinery, with the billionaire saying he wanted to give ordinary Nigerians the chance to share in the plant's success.
The refinery, which started production in 2024, is one of the largest in the world and took more than a decade to complete.
But he warned investors that the price of the shares could fall, meaning people could lose some of their money.