Africa’s richest man, Aliko Dangote, has finally launched the much anticipated IPO of part of his refinery business, and it&#x27;s generated so much hype that many investment apps were overwhelmed by demand. The company hopes to raise as much as $2 billion from retail investors and with a minimum investment of just $4, the firm hopes ordinary Africans will buy shares.<br>On today’s special episode, Deputy Managing Editor for Africa Neil Munshi joins Jennifer Zabasajja. They hear from Bloomberg&#x27;s Lagos based reporter Yinka Ibukun about the mood among Nigerians, and then speak to analyst Feyi Fawehinmi about why he’s not convinced by the hype.<br>Follow all our coverage of the Dangote IPO across Bloomberg platforms, and you can subscribe to the Next Africa Newsletter for more.<br>See omnystudio.com/listener for privacy information.

Can Dangote’s IPO Live Up to The Hype?

Next Africa

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[SPEAKER_08] Bloomberg Audio Studios Podcasts Radio News You can be part of what comes next. Something you can own a share of. The Dangote Petroleum Refinery and Petrochemicals FZE initial public offer is now open.

[SPEAKER_04] Nigerian billionaire Elogi Aliko Dangote has finally launched his much anticipated IPO, offering retail investors the chance to buy shares in his refinery business. It's Africa's largest ever IPO and could raise as much as $2 billion. Dangote says the share sale is about democratizing the continent's largest industrial asset.

[SPEAKER_02] The IPO that we're doing is actually to bring in democracy into capital markets in Africa, is to have Africans to be able to participate in this prosperity.

[SPEAKER_04] And many Nigerians and Africans more broadly cannot wait to get involved. Demand for shares was so high that many Nigerian investment apps found themselves overwhelmed. With a minimum investment of just $4 U.S. dollars, the firm hopes ordinary Africans will make up much of the 10 million retail investors targeted by the offer.

Can Dangote’s IPO Live Up to The Hype?

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Can Dangote’s IPO Live Up to The Hype?

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.