Africa’s richest man, Aliko Dangote, has said the Dangote Petroleum Refinery and Petrochemicals is targeting up to 10 million shareholders through its ongoing Initial Public Offering (IPO).
Dangote disclosed this in a video interview posted on the X page of CNN International correspondent Larry Madowo on Monday.
During the interview, Madowo told the billionaire that Nigerians on social media had been inspecting Dangote’s trucks, visiting his cement factories and publicly identifying themselves as investors while demanding regular updates on the company.
Asked how the people were responding to the IPO, Dangote said the offer had attracted interest beyond Nigeria.
“I think this IPO is not only for Nigerians. We’ve got a lot of interest from all over Africa, and we’re selling shares. We’re trying to bring in democracy to our stock markets,” he said.
Dangote said the company wanted to broaden ownership to such an extent that its annual general meeting could eventually require a stadium to accommodate shareholders.
“We’re looking at having 10 million shareholders,” he said.
When Madowo asked him to confirm the target, Dangote responded, “I’m 100 per cent sure we get 10 million shareholders.”
