West Africa: Nigeria's Dangote Refinery Secures $1b Backing Ahead of IPO

[Daba Finance] Dangote Petroleum Refinery has secured a $1 billion underwriting programme ahead of its planned Nigerian stock-market listing, adding another source of capital as the company prepares what could become Africa's largest IPO. The programme includes a funded $600 million private placement and a $400 million underwriting commitment that will support the public offer when it launches.