Dangote Petroleum Refinery is planning a dual listing on the London Stock Exchange (LSE) and Nigerian Exchange (NGX) Limited.
Executive director of Dangote Group, Devakumar Edwin, who disclosed this, said the refinery would be listed on the stock exchanges in the United Kingdom and Nigeria because the NGX will not have adequate depth to exclusively handle the petroleum refinery.
“We would have to take it to LSE (London Stock Exchange) but also list in NSE,” Edwin told Reuters in a report.
Other subsidiaries of Dangote Group; Dangote Cement, Dangote Flour Mills, and Dangote Sugar, are all listed on the Nigerian exchange.
President of Dangote Group, Aliko Dangote, had previously disclosed that the refinery will be listed on the exchange before the end of the year.
The 650,000 barrels per day refinery, which has commenced production of diesel and aviation fuel, plans to begin petrol production this June.
