The IPO of Dangote Refinery and Petrochemicals FZE, which owns Africa's largest refining complex, raised between $1.5 billion and $1.6 billion from local and retail investors, Bloomberg reported. The company achieved its goal of raising funds even before it meets the demand from international funds. Considering the possibility of 30% for additional placement of shares, the IPO could reach about 2.1 billion dollars.

The IPO of Dangote Refinery and Petrochemicals FZE, which owns Africa's largest refining complex, raised between $1.5 billion and $1.6 billion from local and retail investors, Bloomberg reported. The company achieved its goal of raising funds even before it meets the demand from international funds. Considering the possibility of 30% for additional placement of shares, the IPO could reach about 2.1 billion dollars.