Dangote Petroleum Refinery has formally executed agreements for its landmark Initial Public Offering (IPO), introducing a first-in-Nigeria subscription model that will allow retail investors to acquire shares in the mega-refinery for as little as ₦5,250.
The signing ceremony marks the official countdown to what is expected to be the largest equity offer in the history of the Nigerian capital market.
Under the transaction structure, Dangote Refinery is offering 4.1 billion ordinary shares to the public at ₦525 per share, seeking to raise approximately ₦2.157 trillion, or about $1.6 billion, to fund growth capital expenditure and support its continued operational expansion.
A central component of the offer is the push to broaden corporate ownership across Nigeria by lowering the entry barrier for retail investors and facilitating participation through digital distribution channels.
The minimum subscription has been set at 10 shares, requiring an initial investment of just ₦5,250, while subsequent subscriptions will be made in multiples of 10 shares.
Details later…
Demola Ojo
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