Dangote Refinery IPO: NGX loses massive N1.9tn in two days as investors sell stocks
The Nigerian stock market lost N1.9 trillion in two days as investors sold their stocks in preparation for Dangote Refinery’s IPO, which is valued at N2.15 trillion. On Wednesday, investors recorded a 1.17 percent, or N20 billion, decline, with the market closing at N1.88 trillion from N1.9 trillion, with only four gainers recorded during the […] Dangote Refinery IPO: NGX loses massive N1.9tn in…
The Nigerian stock market witnessed a massive N1.9 trillion loss in just two days as investors prepared for the highly anticipated IPO of Dangote Refinery. Valued at N2.15 trillion, market participants sold off their stocks, causing a 1.17 percent decline on Wednesday. The NGX ended the trading session at N1.88 trillion, down from N1.9 trillion.
Only four stocks managed to gain value during the session, while the majority saw significant declines. Champion Breweries, GreenWef, and UPDC were the notable gainers, with BUACEMENT and STANBICETF30 among the leading losers. The losses on Tuesday and Wednesday combined amounted to N1.9 trillion, setting the stage for the historic IPO that is set to open on September 16, 2026, at N525 per share.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
