Kenyans Could Soon Buy Dangote Refinery for Just Sh492
Source: Nairobi Wire
Summary
Kenyans may soon have a chance to own a stake in West Africa’s oil giant for under Sh500, opening up cross-border investing for retail buyers across East Africa. The Nairobi Securities Exchange (NSE) and the Capital Markets Authority (CMA) are developing a vehicle that allows local investors to participate directly in Nigeria’s massive Dangote Petroleum Refinery initial public offering (IPO). Low Entry Barrier via Depositary Receipts The proposed arrangement relies on Global Depositary Receipts (GDRs) – financial instruments that represent shares in a foreign firm while trading on a local bourse like standard equity. Under this setup, Renaissance Capital will The post Kenyans Could Soon Buy Dangote Refinery for Just Sh492 appeared first on Nairobi Wire.