Africa’s Dealmakers Bet on IPO Wave

Africa’s dealmakers bet on IPO wave

The NewsAfrica’s dealmakers are betting that the continent’s capital markets are entering a new phase, with a burst of IPO and M&A activity kicking off with Aliko Dangote’s anticipated $5 billion listing of his refinery on the Nigerian Exchange.“The Dangote IPO has got everyone very excited,” Yemisi Deji-Bejide, head of M&A for Africa at Standard Chartered, told Semafor. She said the deal showed the continent’s growing ability to build and finan…

OPay, PalmPay’s potential foreign IPO sparks push for mandatory NGX listing

The reported plan by fintech giants OPay  and PalmPay to pursue a foreign stock market listing has triggered renewed calls for policies that would ensure major companies generating substantial revenues in Nigeria also give local investors an opportunity to own stakes in their businesses. The Chief Executive Officer of Nigerian Exchange Limited (NGX), Temi Popoola, made the call during a meeting with President Bola Ahmed Tinubu, urging the Federa…