Nigeria: 'Dangote Refinery IPO Opens Ownership to Nigerian Investors'
The offer seeks to raise about $1.6 billion and could double the refinery’s capacity to 1.4 million barrels per day by 2029.
- Dangote Petroleum Refinery and Petrochemicals FZE launched a ₦2.15 trillion IPO on September 14, offering 4.1 billion shares at ₦525 each and scheduled to close October 13.
- Aliko Dangote aims to democratize wealth by spreading public ownership across his businesses, allowing ordinary investors to participate in large African industrial projects while pursuing a broader \$25 billion investment program.
- Renaissance Capital is developing Global Depositary Receipts for the Nairobi Securities Exchange to help Kenyan investors trade the refinery shares in shillings without complex cross-border account setup.
- Bard Santner Investors is facilitating Zimbabwean participation in the US\$1.6 billion offering, managing applications and compliance requirements with a deadline of October 2 ahead of the October 13 close.
- On Wednesday, Dangote marked groundbreaking for the 700,000-barrel-per-day Dangote East Africa Refinery in Lamu, Kenya, a separate project distinct from the Nigerian refinery currently conducting its IPO.
20 Articles
20 Articles
Kenyan investors may access Dangote Refinery IPO through GDRs
Kenyan investors could gain access to Dangote Petroleum Refinery’s initial public offering (IPO) through a proposed Global Depositary Receipt (GDR) read more Kenyan investors may access Dangote Refinery IPO through GDRs
Nigeria: 'Dangote Refinery IPO Opens Ownership to Nigerian Investors'
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.
Beyond the Dangote IPO: What happens when the promise is tested
Unless you have been deliberately avoiding the news lately, chances are that you have heard something about the Dangote Refinery Initial Public Offering (IPO). It is difficult not to. Open your email or banking app and you are likely to find an invitation to subscribe. Take a leisurely scroll through social media and you will […]
What would a successful Dangote Refinery IPO really say about Nigeria's economy, By Bolutife Oluwadele
The active public offer could deepen Nigeria’s capital market and demonstrate confidence in a major industrial asset. But even if it is oversubscribed, its outcome should not be treated as conclusive evidence of the health of the wider economy. Few corporate events in Nigeria have generated as much anticipation as the initial public offering of […]
Kenyans to access Dangote refinery IPO through NSE-listed GDRs
Kenyan investors will soon be able to participate in Dangote Petroleum Refinery’s ongoing initial public offering (IPO) for as little as Sh490 through a new Nairobi Securities Exchange (NSE)-listed investment vehicle awaiting regulatory approval. The investment will be structured through global depository receipts (GDRs), which will give local investors exposure to Dangote Petroleum Refinery and
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