Aliko Dangote is planning to list shares of his $20 billion oil refinery on multiple African stock exchanges, in what could become a landmark cross-border public offering on the continent.

The plan was disclosed by Frank Mwiti, Chief Executive Officer of the Nairobi Securities Exchange, following a meeting held last week in Lagos between Dangote and heads of African exchanges.

In December last year, Dangote, President of Dangote Industries Limited, unveiled plans to list a 10% stake in his $20 billion refinery on the Nigerian Exchange this year.

According to Bloomberg, citing an email from Ukandu Ukandu, FirstCap Chief Executive Officer, Dangote has already appointed Stanbic IBTC Capital Ltd., Vetiva Advisory Services Ltd., and FirstCap Ltd. as advisers for the initial public offering of Dangote Petroleum Refinery and Petrochemicals FZE.

Mwiti stated that the proposed listing is designed to cut across multiple markets and deepen investor participation across the continent.

“The plan is to structure a pan-African IPO,” he said.

A spokesman for the Dangote Group confirmed that discussions had taken place between Dangote and exchange officials but declined to provide further details.

There has been growing speculation about Dangote’s planned initial public offering in recent months. In December, it was reported that Dangote unveiled plans to list a 10% stake in his mega refinery on the Nigerian Exchange in 2026.