Refinery shares may hit N10,000 — Dangote
Aliko Dangote says Dangote Refinery shares, offered at N525, could hit N10,000. He assures small investors will be prioritised in the upcoming IPO. Read More: https://punchng.com/refinery-shares-may-hit-n10000-dangote/
Dangote Industries' President, Aliko Dangote, revealed during an interview that shares of Dangote Petroleum Refinery, now trading at N525, could potentially rise to N10,000. The potential hike in share value has been highlighted to encourage small-scale investors to participate in the refinery's Initial Public Offering (IPO). Dangote assured small investors that they would be given priority in the allocation of shares, contrasting this with large institutional investors who might not receive all the shares they request.
The IPO is anticipated to raise approximately N2.15tn, if fully subscribed, with the minimum subscription being ten shares at N5,250. The shares are scheduled for listing on the Nigerian Exchange Main Board after the allotment process, with their market price contingent on demand and supply. While Dangote projected a rise to N10,000, the current offering price at N525 does not guarantee future returns.
The IPO would fund the refinery's expansion, with plans to increase refining capacity from 650,000-700,000 barrels per day to 1.4 million barrels per day.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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