A law firm, AELEX, has confirmed its advisory role as legal adviser on the initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE, described as the largest single IPO ever undertaken in Africa.

AELEX acted as solicitors to the offer in the transaction, which also represents the first public offering by a Free Zone Entity (FZE) in Nigeria.

The successful completion of the offering marks a significant development in the country’s capital market, potentially opening a new pathway for large-scale industrial and infrastructure businesses operating under the Free Zone framework to access public capital.

According to a statement on the transaction, the offering brought together a consortium of financial and professional advisers.

AELEX advised as solicitors to the offer alongside another leading law firm, a statement said.

The transaction builds on AELEX’s experience in capital markets and securities transactions, as well as its longstanding relationship with the Dangote Industries Group.

The law firm previously acted as solicitor to the issuer in the N60 billion IPO of Dangote Sugar Refinery Plc, which was one of Nigeria’s significant equity offerings at the time.

Beyond capital markets transactions, AELEX has advised on major projects within the Dangote Group, including the financing of the Obajana Cement Project.