Offering only 3% in the IPO is what mtaani wanaita ushebedu!!! Google the word.
It makes no sense outside Dangote's point of view. I suspect he is more interested in the paper value of his remaining 97% for the sake of ranking him in the wealth list. I realised he behaves like a lower middle class fellow in terms of his perceived wealth. He keeps arguing with forbes and others about his quoted wealth saying it is understated!! Who cares!!?? People with real wealth - apart from him and Donald Trump - don't care about such!!!
I remember him saying that one of the reasons his wealth is understated is because a number of his companies are not listed and are therefore undervalued in the rankings.
Whether the higher values will be for bragging rights or to be taken advantage of in future business deals and financing I don't know!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.