09 July 2018 ( Lagos ) :According to news sources, Dangote Group may look to float its oil refinery arm on the exchange once it comes online (estimated date: 2019/2020). Analysts recall that the Dangote Group is currently constructing a 650,000 barrels a day refinery in a free trade zone in Lekki, a facility that would be able to satisfy Nigeria’s petroleum demand and export excess output to neighboring countries.
The move to list the refinery would be a further boon to the Nigerian Stock Exchange as it is likely to be a sizable asset, and would help deepen the market. Analysts note that the primary market of the Nigerian Stock Exchange is getting a new lease of life in 2018, helped by the forthcoming listing of MTN Nigeria, and the listing of the Dangote refinery company would complement this story.
Reporting for EasyKobo on Monday, 9 July 2018 in Lagos, Nigeria
Source: Vetiva Capital Management Limited
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