‘Vetiva Acting as Lead Adviser to Dangote Petroleum Refinery IPO’

Kayode Tokede of Vetiva Advisory Services Limited has announced that their firm is serving as the Lead Adviser for the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP). This transaction is anticipated to be a significant event in Nigeria's capital market. The IPO has obtained approval from the Securities and Exchange Commission (SEC) and is set to commence subscription today.

As the Lead Adviser, Vetiva Advisory Services Limited is responsible for managing the advisory and transaction coordination process. They are collaborating closely with DPRP, other expert entities, and pertinent market institutions to ensure the successful completion of this landmark deal. The offer will involve the sale of up to 4.1 billion ordinary shares in DPRP. The precise details of the offer, such as the issue price and subscription timetable, will be detailed in the SEC-registered Prospectus.

The appointment of Vetiva Advisory Services Limited as the Lead Adviser to this transaction not only strengthens the firm's standing as a prominent investment banking organization but also highlights its proven expertise in structuring and executing significant capital market transactions in Nigeria. This role also underscores Vetiva's ongoing dedication to advancing Nigeria's capital markets, expanding investor involvement, and facilitating the accumulation of long-term capital for enterprises of strategic importance.