CIS, ASHON Urge Nigerians to Participate in Dangote Refinery IPO

The Chartered Institute of Stockbrokers (CIS) and the Association of Securities Dealing Houses of Nigeria (ASHON) have expressed their support for the initial public offering (IPO) of the Dangote Petroleum Refinery and Petrochemicals Free Zone Enterprise. The CIS and ASHON view the IPO as a significant milestone for Nigeria's capital market and an opportunity for Nigerians to become shareholders in a crucial national asset.

The IPO is set to commence today, with a minimum subscription of 10 shares at a price of N525 per share. CIS and ASHON have urged both retail and institutional investors, particularly those with a long-term perspective, to consider participating in the offering through the designated channels.

Both organizations highlighted the strategic importance of the refinery's integrated refining and petrochemicals model, its large scale, and its pivotal role in domestic energy supply. They emphasized that the enterprise has the potential to foster import substitution, boost foreign exchange earnings, drive industrial development, and enhance economic participation through the capital market.

CIS President Dr. Fiona Ahimie stated, "The proposed listing is a welcome development for Nigeria and our capital market. The refinery offers a robust integrated business model, significant scale, and the strategic relevance needed to contribute substantially to the country's energy security and industrial growth."

ASHON Chairman Sehinde Adenagbe remarked, "Incorporating an enterprise of this magnitude into the public market widens participation, promotes wealth creation, and enriches Nigeria's investment landscape. The stockbroking community wholeheartedly welcomes this offer and is prepared to facilitate a smooth process, enabling investors nationwide to engage in the opportunity."