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Kenyan investors won the green light on Monday to buy into Africa’s largest-ever share sale, after the Capital Markets Authority (CMA) approved a fast-track offering document that opens Dangote Petroleum Refinery & Petrochemicals’ record initial public offering to the country.
The approval allows Renaissance Capital (Kenya) Limited, a licensed investment bank, to issue global depositary receipts, certificates representing shares in the Nigerian refiner, that will be listed on the Nairobi Securities Exchange (NSE) and settled in Kenyan shillings.
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