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Nigeria’s Dangote Petroleum Refinery is also planning an Egyptian depositary receipt program to broaden participation in its IPO.
NGX is taking Dangote Refinery’s $1.6bn IPO to Egypt, Ethiopia and Botswana as it seeks wider African participation and stronger cross-border investment links.
The Dangote Petroleum Refinery offer has opened discussions on expanding cross-border investment among African capital markets, with the Nigerian Exchange Group (NGX Group) engaging stakeholders in Egypt and Ethiopia to explore ways of improving investor access and mobilising capital across the continent.