Lack of regulatory approvals for the Dangote Refinery initial public offering (IPO) has apparently locked out many East African investors amid a growing frenzy towards the massive public offer witnessed across Africa and rapid increases in fuel prices caused by the US-Iran war.
The $1.6 billion Dangote Refinery IPO was launched last month in a bid to raise additional funds for expansion of production capacity following sharp demand for fuel experienced in several African countries affected by the raging Middle East conflict that broke out in March this year.
