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NSE, CMA move to open Dangote's Sh207 billion IPO to Kenyan investors

Dangote Group President and CEO Aliko Dangote and President Ruto during a tour of the Dangote Refinery in Lekki, Lagos State, Nigeria. [PCS]

The Nairobi Securities Exchange (NSE) and the Capital Markets Authority (CMA) are set to launch a pathway through which Kenyans could legally participate in Dangote Petroleum Refinery’s record initial public offering (IPO).

Africa’s largest share sale will be accessible through Global Depositary Receipts (GDRs) listed on the NSE. A GDR is a certificate representing shares in a foreign company but trades locally in local currency.

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