Dangote Oil Refinery Stock Sale to End Tomorrow

The $2 billion public stock offering for the Dangote Oil Refinery is set to conclude tomorrow, Tuesday, October 17, 2018 E.C., following a 44-day period. According to information released by the Ethiopian Capital Market Authority, the sale has been open to domestic investors for the past 16 days, with each share priced at 74.9 Birr. This offering is primarily targeted at 100 select high-net-worth investors. To participate, investors were required to demonstrate a net worth of at least 10 million Birr, excluding one vehicle and one residential property.