BSE nears Dangote IPO deal :: Mmegi Online

The Botswana Stock Exchange (BSE) is reportedly close to clinching a deal that would give local investors direct access to the Dangote Petroleum Refinery & Petrochemicals Initial Public Offer, Africa’s largest float of shares, which is expected to raise up to $2 billion.

Powered by Africa’s richest man, Aliko Dangote, the IPO is forecast to deliver dollar-based returns at market-beating rates, given the success of the existing 700,000-barrel-per-day plant outside Lagos. The Dangote group plans to use the proceeds from the IPO to expand further into energy and other opportunities, which include a pipeline running through Botswana.

Already, local pension funds, who hold more than P176 billion, have signalled strong interest in accessing the IPO, with direct petitions made to Dangote during a recent visit to Gaborone.

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BSE nears Dangote IPO deal

The Botswana Stock Exchange (BSE) is reportedly close to clinching a deal that would give local investors direct access to the Dangote Petroleum Refinery & Petrochemicals Initial Public Offer, Africa’s largest float of shares, which is expected to raise up to $2 billion.

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