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Sunday, 20 September 2026

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Markets

Dangote Refinery IPO Opens at NGN 525 per Share, Targets NGN 2.15 Trillion

Dangote Petroleum Refinery and Petrochemicals FZE is selling 4.1 billion ordinary shares at NGN 525 each in its initial public offering, according to Punch. The offer is valued at about NGN 2.15 trillion if fully subscribed, Punch reported.

The subscription window opened on September 14 and is scheduled to close on October 13. The minimum subscription is set at 10 shares, meaning individual investors can apply with as little as NGN 5,250.

FCMB Group has taken key roles in the transaction, according to Punch. The public offer opens the door for ordinary investors to take an ownership stake in one of Africa's largest industrial projects.

Retail demand has strained fintech infrastructure. Several Nigerian digital investment platforms suffered outages as retail investors rushed to buy shares, in what Yahoo Finance described as Africa's largest-ever share sale.

Interest has extended beyond Nigeria. The Capital Markets Authority of Rwanda said it is working with relevant stakeholders to facilitate participation by Rwandan investors in the offer, according to Vanguard and Hallmark News.

Source: nationaldailyng.com (opens in a new tab)5 sourcesPermalink