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Central banks' super week: Fed, ECB, BoJ seen holding; Canada may hike Moody’s spares France a downgrade as 10-year yield tops 5% Oil slips from six-month highs as Qatar mediates in Tehran China’s Fifth Plenum opens as AI exports mask weak home demand Lula wins, Brazil markets brace for shock sell-off; Tokyo Brazil ETF plunges ~15% Brazil votes today: Lula faces Flávio Bolsonaro in runoff Fed, ECB, BoJ Rate Decisions This Week: Holds Expected, December in Focus Oil is pricing in the next round of war. Brent tops $116 as Iran tensions drag Wall Street lower Global money is bidding for India's biggest growth stories while leaving India’s index

Industries

Dangote refinery IPO draws investors from over 90 countries.

Africa’s biggest-ever IPO is going global.

News | 19 October 2026

Dangote refinery IPO draws investors from over 90 countries.

Dangote Petroleum Refinery said its IPO has drawn subscriptions from investors in more than 90 countries, including 51 of Africa’s 54 nations.

It is a test of whether African capital markets can raise money across borders.

The refinery is selling 4.1 billion shares worth $1.6B, a 3% stake, in what would be the continent’s largest listing if fully subscribed.

The closing date has been pushed to 27 October to give more African investors time to participate. The cash will help fund a $14.3B expansion to double capacity to 1.4 million barrels a day by 2029, a major bet on African energy self-sufficiency.

The offer is 4.1 billion shares worth $1.6B, a 3% stake, which would be Africa’s largest IPO if fully subscribed. The closing date was extended to 27 Oct to give investors in more African countries time to take part. Dangote plans to spend $14.3B to double capacity to 1.4 million barrels a day by 2029.