Dangote Refinery Signs IPO Papers, Unveils US$14.3 Billion Plan to Double Capacity

Dangote Refinery Signs IPO Papers, Unveils US$14.3 Billion Plan to Double Capacity

NIGERIA · MARKETS Key Facts —What happened Dangote Petroleum Refinery signed the offer documents for its initial public offering, or IPO — the first sale of its shares to the public — at a ceremony in Lagos on Monday. —The offer 4.1 billion shares at N525 each (about US$0.40), aiming to raise N2.15 trillion (about […]

Dangote refinery cuts $570 million in debt as it prepares for biggest African IPO

Africa’s biggest oil refinery has cut its debt by $570 million as it increased production and sales ahead of its planned initial public offering, which could become the continent’s largest share offering.

Nigerians with BVN Can Own Stake in Refinery Through IPO

President of Dangote Industries Limited, Aliko Dangote, says ordinary Nigerians will be able to acquire shares in the Dangote Petroleum Refinery when the company’s planned Initial Public Offering (IPO) opens for subscription. Dangote said the share offer was being designed to make ownership of the 700,000-barrel-per-day refinery accessible to a broad range of Nigerians, including […]

Historic Share Offer: Dangote Refinery Launches landmark IPO, Targets 10Million Subscribers

(IPO 1) L-R: Group Vice President, Oil & Gas and Fertiliser, Dangote Industries Limited, Devakumar Edwin; Group Executive Director, Commercial Operations, Cement and Foods Businesses, Dangote Industries Limited, Mariya Aliko-Dangote; Chairman, Heirs Holdings, Tony Elumelu; President/CE, Dangote Industries Limited, Aliko Dangote; Founder, Zenith Bank Plc, Jim Ovia; Former Minister of Industry, Trade and Investment, Otunba Niyi Adebayo; Founding p…