The net worth of Dangote Group President, Aliko Dangote, has risen to an estimated $51 billion following the official launch of the Dangote Refinery Initial Public Offering (IPO) on the Nigerian Exchange Limited (NGX).
According to Forbes data, the latest valuation places Dangote as the 36th-richest person in the world.
The Dangote Refinery public offer reportedly raised ₦1.5 trillion within its first six hours of opening on the NGX.
The company is targeting a total of ₦2.15 trillion from the offer to support its ongoing expansion plans.
The IPO comprises 4.1 billion ordinary shares aimed at attracting about 10 million Nigerian investors.
Each share has a nominal value of $0.000013 and is being offered at ₦525 per share.
