Dangote Refinery to price IPO shares at N525, targets $1.5 billion raise
Dangote Petroleum Refinery is planning to price shares in its upcoming initial public offering (IPO) at N525 per share, potentially raising about $1.5 billion as the company prepares for what could become Africa's largest public offering. The post Dangote Refinery to price IPO shares at N525, targets $1.5 billion raise appeared first on Nairametrics .
Dangote Petroleum Refinery is set to launch its initial public offering (IPO) with shares priced at N525 each, potentially raising around $1.5 billion for the company. This could make the IPO Africa's largest public offering, according to Reuters. Two anonymous sources familiar with the deal shared these details on Friday. The refinery plans to open its order book on September 14.
Aliko Dangote, the founder, had previously indicated the IPO would open within 10 to 12 days. Dangote Group intends to sell 4.1 billion shares at N525 per share. The exact percentage of ownership these shares would represent in the Lagos-based refinery remains undisclosed. The offer will also include a 15% greenshoe option. The funding will be used to double the refinery's capacity from 650,000 to 1.4 million barrels per day.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Dangote Refinery shares priced at ₦525 as SEC approves IPO punchng.com
- Dangote Refinery IPO set for N525 per share businessday.ng
