British executive David Bird is preparing for what he describes as an intense few months as Dangote Petroleum Refinery and Petrochemicals moves closer to a potential stock market debut that could rank among the largest listings in Nigerias history.
Bird, the CEO of the 20 billion refinery owned by Africas richest man, Aliko Dangote, said April is shaping up to be a demanding period as advisers, bankers and lawyers step up work ahead of a planned initial public offering on the Nigerian Exchange this year. Ive been warned that my April will be extremely busy, Bird said. I shouldnt be planning holidays at that time.
This comes as Dangote accelerates preparations to list a portion of the 650,000-barrel-per-day facility, which sits on the outskirts of Lagos and has already begun reshaping Nigerias fuel trade. While the final structure is still being refined, Bird said the goal is clear: give everyday Nigerians a chance to own part of the business, not just large institutions. The plan involves an initial placement with institutional investors, followed by an offer to retail shareholders.
