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Why Africa’s Richest Man Aliko Dangote Is Now Worth Over $50 Billion
Africa’s richest person Aliko Dangote, is opening up his privately controlled oil refinery to public shareholders on Monday, September 14 for the first time in what is expected to be the biggest IPO in the continent’s history. The cement magnate is offering individual investors up to 4.1 billion shares (or 3.3% of the company) at 40 cents each (525 Nigerian Naira), with the order book closing on October 13 at a 10-share buy minimum, an exceptionally low entry requirement of roughly $4. The stock is expected to start trading on the Nigerian Stock Exchange in November. “We have D-Day on…
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