The Johannesburg Stock Exchange has engaged with Nigeria’s Dangote Group and said the company could list its petroleum refinery in South Africa after a Nigerian IPO, a spokesperson told Reuters on Wednesday.<\/p>\n\n\n\n
“They will list in Nigeria first but with strong intent to hopefully bring the listing to\u00a0South\u00a0Africa,” the JSE said in an emailed response to Reuters questions.<\/p>\n\n\n\n
The company is aiming to raise $5 billion in an initial public offering, Reuters reported on Tuesday.<\/p>\n\n\n\n
Sources told Reuters that the group has made a preliminary filing with the Nigerian regulator for the refinery IPO, targeting an October listing.<\/p>\n\n\n\n
One of the sources said the group wants regional capital markets to take part, with Kenya potentially raising $500 million.<\/p>\n\n\n\n
Africa’s richest man, Aliko Dangote, built the refinery at a cost of roughly $20 billion. It started fuel production in 2024 and reached full capacity earlier this year.<\/p>\n\n\n\n
The 650,000 barrel per day refinery is\u00a0Africa’s largest, and Nigerian state oil firm NNPC holds a stake of just over 7%.<\/p>\n","protected":false},"excerpt":{"rendered":"
The JSE says it has engaged with Nigeria’s Dangote Group about a local listing.<\/p>\n","protected":false},"author":7,"featured_media":869099,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"posted","_sma_x_autopost_error":"","_sma_x_post_id":"2085260346160300236","_sma_facebook_post_id":"191437357620492_2168181294002270","_sma_instagram_post_id":"18112824547979719","_sma_x_attempts":1,"footnotes":""},"categories":[9872],"tags":[26086],"class_list":["post-869098","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-dangote-group"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/869098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=869098"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/869098\/revisions"}],"predecessor-version":[{"id":869100,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/869098\/revisions\/869100"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/869099"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=869098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=869098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=869098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}