Real reason we are pursuing IPO – Dangote

President of Dangote Group, Aliko Dangote, has disclosed the crushed the Dangote Refinery is pursuing an Initial Public Offering, IPO.

In an interrogation connected Arise Television’s Morning Show, Dangote said the IPO was aimed astatine democratising the Nigerian banal speech and allowing Nigerians from each walks of beingness to go shareholders.

He reiterated that the refinery would go the biggest institution successful Africa wrong 3 years, stressing that the institution would turn beyond people’s imagination.

“Given the profitability we are already seeing, immoderate whitethorn question wherefore we are pursuing an IPO.

“The IPO is to democratise the Nigerian banal speech and let Nigerians from each walks of beingness to go shareholders. With the IPO, we are looking to rise $1.6 billion.

“It’s a imagination and a vision. At the aforesaid time, I cognize precisely wherever this institution is going to go.

“With the profitability that we have, wherefore are we adjacent going determination to database it arsenic an IPO? When we had our backstage placement, we were looking for $1 billion.

“And so, nary substance what we do, we volition present transportation these radical along. And the contented is that you look astatine what has happened successful Amazon, Microsoft, Tesla and co, wherever radical bought shares for small amount, and present those peopl...