Dangote has 'strong intent' for South Africa listing after Nigeria IPO - JSE

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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.

"They will list in Nigeria first but with strong intent to hopefully bring ⁠the listing to South Africa," the JSE said in an emailed response to Reuters questions.
The company is aiming to raise $5 billion in an initial public offering, Reuters reported on Tuesday.
Sources told Reuters that the group has made a preliminary filing with the Nigerian regulator for the refinery ‌IPO, ⁠targeting an October listing.
One of the sources said the group wants regional capital markets to take part, with Kenya potentially raising $500 million.
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.
The 650,000 barrel per day refinery is Africa's largest, and ⁠Nigerian state oil firm NNPC holds a stake of just over 7%.

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Dangote Refinery