Nairobi, Oct. 6 -- The Capital Markets Authority (CMA) has finally approved the sale of ongoing Dangote Petroleum Refinery shares via the Nairobi bourse using a special financial instrument.

The approval of the instrument, which is technically known as global depository receipts (GDRs), would allow local stockbrokers to market Dangote's initial public offering (IPO) locally and list a copy of the shares at the Nairobi Securities Exchange (NSE).

Published by HT Digital Content Services with permission from Business Daily....