"Dangote refinery plans for dual listing in London and Lagos"

" Dangote refinery plans for dual listing in London and Lagos \r\n\r\n \r\n\r\nNigeria's Dangote refinery plans to pursue a dual listing on both the London and Lagos stock exchanges.\r\n\r\n \r\n \r\n \r\n \r\n\r\nOn Tuesday, Devakumar Edwin, an executive at Dangote Refinery, unveiled this proposed development.\r\n\r\n \r\n \r\n\r\nLast year, in an interview with the\u00a0 Financial Times , Aliko Dangote announced the intention to publicly list his\u00a0 Dangote Petroleum Refinery \u00a0on the Nigerian Exchange Limited.\r\n\r\n \r\n \r\n\r\nDevakumar Edwin, the Dangote refinery executive, told\u00a0 Reuters \u00a0that the Nigerian Stock Exchange alone would not be able to handle the refinery exclusively giving way to the London listing.\r\n\r\n \r\n \r\n He said, \u201cWe have listed all our businesses. The NSE (Nigerian Stock Exchange) will not have adequate depth to handle exclusively the petroleum refinery. We would have to take it to LSE (London Stock Exchange) but also list in NSE.\u201d \r\n \r\n \r\n\r\nIn February, Umaru Kwairanga, Chairman of the Nigerian Exchange Group, also confirmed that Dangote Industries\u00a0 plans to list its refinery and fertilizer companies .\r\n\r\n \r\n \r\n\r\nThe $20.5 billion Dangote refinery. which commenced production in\u00a0 January after enduring years of delay , boasts a processing capacity of 650,000 barrels per day.\r\n\r\n \r\n \r\n\r\nThe refinery was recently ranked above\u00a0 Europe's 10 largest refining facilities . The $20.5 billion facility has a processing capacity of 650,000 barrels per day.\r\n\r\n \r\n \r\n\r\nEarly this year,\u00a0 Dangote \u00a0Cement, a subsidiary of Dangote Industries Limited, surpassed the\u00a0 N10 trillion market cap , becoming the first Nigerian company to achieve this milestone.\r\n\r\n \r\n \r\n \r\n \r\n \r\n "

"Dangote refinery plans for dual listing in London and Lagos"

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