Dangote IPO: Rewane projects $600bn as IPMAN backs refinery
The Independent Petroleum Marketers Association of Nigeria has urged its members nationwide to invest in the planned Initial Public Offering of the Dangote Petroleum Refinery, as Financial Derivatives Company Chief Executive Officer, Bismarck Rewane, projected that Nigeria’s economy could expand to $600bn by 2030. IPMAN described the share sale as an opportunity for petroleum marketers Read More:…
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has encouraged its members to invest in the upcoming Initial Public Offering (IPO) of the Dangote Petroleum Refinery. According to Bismarck Rewane, CEO of Financial Derivatives Company, Nigeria's economy could grow to $600bn by 2030.
The Dangote Petroleum Refinery IPO is set to be one of the largest share sales in Africa and Nigeria's history. The company plans to offer 4.1 billion shares at ₦525 each, potentially raising approximately ₦2.15 trillion, which values the company at around $47 billion.
IPMAN described the share sale as an opportunity for petroleum marketers. Some business leaders have expressed support for the IPO, with the aim of democratising Africa's industrial wealth.
Brief written by urgent.news from Punch Nigeria, Punch, BusinessDay Nigeria, Daily Trust, Nairametrics — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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