Dangote extends IPO deadline to October 27

Nigeria's Dangote Petroleum Refinery and Petrochemicals has extended its IPO deadline to October 27 by two weeks, giving investors more time to participate in the offering. The Securities and Exchange Commission approved the extension, citing the need for expanded distribution channels and depositary receipt programmes. The IPO, which opened on September 14, aims to raise funds by selling 4.1 billion ordinary shares at 525 naira each.

The company anticipates trading in the shares to begin in early December, subject to the completion of required processes.

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