Dangote refinery defends $49bn value against $16bn US rival
Article excerpt
David Bird, chief executive of the Lagos refinery owned by Nigerian billionaire Aliko Dangote, has defended the roughly $49 billion valuation investors are being asked to accept in Africa's largest share sale, arguing that comparisons with cheaper international refiners measure the wrong things. Analysts have set the refinery against listed peers of similar size. HF Sinclair, a US refiner processing about 678,000 barrels per day across several plants, is valued at around $16 billion, according t
Extracted from this sentence
At the offer price the company is valued at about ₦65.22 trillion.
