Nigeria’s Dangote refinery plans to pursue a dual listing on both the London and Lagos stock exchanges.
On Tuesday, Devakumar Edwin, an executive at Dangote Refinery, unveiled this proposed development.
Devakumar Edwin, the Dangote refinery executive, told Reuters that the Nigerian Stock Exchange alone would not be able to handle the refinery exclusively giving way to the London listing.
DON’T MISS THIS: Dangote refinery outranks Europe’s 10 largest refining facilities What Edwin said:
He said, “We have listed all our businesses. The NSE (Nigerian Stock Exchange) will not have adequate depth to handle exclusively the petroleum refinery. We would have to take it to LSE (London Stock Exchange) but also list in NSE.”
Early this year, Dangote Cement, a subsidiary of Dangote Industries Limited, surpassed the N10 trillion market cap, becoming the first Nigerian company to achieve this milestone.
