Dangote refinery prepares major IPO to fund expansion

Nigeria’s Dangote refinery is preparing to go public in what could become Africa’s biggest-ever share sale, as the company seeks funding to more than double its production capacity.

The refinery, owned by Africa’s richest man Aliko Dangote, is expected to raise around 1.6 billion dollars through the initial public offering. Nigeria’s Securities and Exchange Commission has approved the sale of 4.1 billion shares.

The funds will…