Dangote’s refinery posted $1.82 billion in profit after tax in the first half of 2026, reversing losses in 2024 and 2025.
It is now raising about $1.56 billion, roughly a tenth of the $14.3 billion budgeted to lift capacity to 1.4 million barrels a day by 2029. The rest is to come from operating cash flow and further borrowing.
In Ethiopia, the sale is capped at 100 qualified investors unless the regulator approves more. Retail buyers are excluded.
Those who do take part will hold Ethiopian Depository Receipts over the stock, issued locally and intended to trade on the Ethiopian Securities Exchange.
Neither ECMA’s directives nor the exchange’s 252-page rulebook sets out how such receipts are issued, cancelled, or how dividends reach the holder. And shares sold under the qualified-investor exemption cannot be transferred except to other qualified investors, or once the regulator registers them.
Read full analysis.
https://shega.co/news/ethiopians-can-buy-a-slice-of-dangote-s-refinery-sort-of
It is now raising about $1.56 billion, roughly a tenth of the $14.3 billion budgeted to lift capacity to 1.4 million barrels a day by 2029. The rest is to come from operating cash flow and further borrowing.
In Ethiopia, the sale is capped at 100 qualified investors unless the regulator approves more. Retail buyers are excluded.
Those who do take part will hold Ethiopian Depository Receipts over the stock, issued locally and intended to trade on the Ethiopian Securities Exchange.
Neither ECMA’s directives nor the exchange’s 252-page rulebook sets out how such receipts are issued, cancelled, or how dividends reach the holder. And shares sold under the qualified-investor exemption cannot be transferred except to other qualified investors, or once the regulator registers them.
Read full analysis.
https://shega.co/news/ethiopians-can-buy-a-slice-of-dangote-s-refinery-sort-of