Aliko Dangote, chairman of the Dangote Industries Limited (DIL), says the initial public offering (IPO) of the company’s refinery business did not achieve its 10 million investors target.

But despite falling short of the target, the IPO attracted “millions of investors”, according to Dangote, who spoke at the 25th annual conference of the Women in Management, Business and Public Service (WIMBIZ) in Lagos.

The billionaire said the number of investors is yet to be officially determined, but attributed the shortfall to the limited time available for the offer and difficulties some prospective investors faced in accessing it.

Dangote said the level of participation was significant when compared with some of the largest public offerings in Africa and globally.

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