Nigeria: 'Dangote Refinery IPO Opens Ownership to Nigerian Investors'
[This Day] Nigerians can invest in Dangote Petroleum Refinery and Petrochemicals with a minimum subscription of N5,250 under an initial public offering launched recently. The company is offering 4.1 billion ordinary shares at N525 each. The offer, valued at about N2.15 trillion if fully subscribed, opened September 14 and is scheduled to close October 13.
Nigerian investors now have the opportunity to purchase shares in the Dangote Petroleum Refinery and Petrochemicals company through an initial public offering (IPO). The IPO allows for a minimum subscription of N5,250 per share, with 4.1 billion shares offered at N525 each. The total value of the offer is approximately N2.15 trillion if all shares are sold.
The IPO, which opened on September 14 and is set to close on October 13, was launched to provide Nigerians with access to a world-class business. FCMB Group Chief Executive Ladi Balogun emphasized that the offer demonstrates the growing reach of Nigeria's capital market, allowing retail, high-net-worth, institutional, and international investors to participate in the market through diverse channels, such as fintechs, banks, and brokers.
Balogun highlighted that the Nigerian capital market is deepening, attracting a broad range of investors, and providing depth and scale to credible Nigerian companies. He described the refinery as largely insulated from macroeconomic and currency risks, indicating the potential and direction of the Nigerian economy.
Written by urgent.news from AllAfrica's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
