The Dangote Refinery has officially commenced its
Initial Public Offering (IPO) on the Nigerian Exchange (NGX), opening the
opportunity for Nigerians and other investors to acquire shares in Africa’s
largest refinery.
President and Chief Executive Officer of Dangote
Industries Limited, Aliko Dangote, formally opened the offer by sounding the
opening gong on the NGX trading floor in Lagos on Monday.
The public offer involves 4.1 billion ordinary shares
priced at ?525 each, with investors allowed to subscribe to a minimum of 10
shares, valued at ?5,250.
The offer is expected to raise approximately ?2.15
trillion and will remain open to investors until October 13, 2026.
Speaking at the ceremony, Dangote said the decision to
take the refinery to the capital market was driven primarily by the desire to
broaden ownership and give more Nigerians an opportunity to participate in the
wealth created by the business.
He described the move as part of efforts to
“democratise wealth creation”, rather than an initiative focused solely on
raising capital.
The historic opening attracted leading figures from
Nigeria’s political, business and financial sectors, as well as traditional
institutions.
Among those present were Lagos State Governor Babajide
Sanwo-Olu, senior officials of the Nigerian Exchange, executives of Dangote
Industries Limited, Ooni of Ife Oba Adeyeye Ogunwusi and several prominent
business leaders.
The ceremony also brought together stockbrokers,
investment professionals and other stakeholders in Nigeria’s capital market as
the refinery formally entered the public offering process.
The Dangote Refinery, located in Lagos, is one of the
largest single-train refineries in the world and has become a major component
of Nigeria’s efforts to increase domestic petroleum refining capacity.
The opening of the IPO marks a significant development
for the Nigerian capital market, offering retail and institutional investors an
opportunity to take an ownership stake in the refinery through the public
offer.
Investors interested in participating in the offer can
subscribe for a minimum of 10 shares at ?525 per share, while the subscription
window will close on October 13, 2026.
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