The initial public offering of Dangote Petroleum Refinery and Petrochemicals remains open for subscription until October 13, giving investors less than a week to apply for shares priced at ₦525 each.
The offer, which opened on September 14, comprises 4.1 billion ordinary shares. A full subscription would raise about ₦2.15 trillion (roughly $1.6 billion), which would make it the largest public offering in African history.
The minimum application is 10 shares, or ₦5,250, with additional orders in multiples of 10.
The company says the low entry point is intentional. Aliko Dangote said the IPO was designed so that ordinary Nigerians, from drivers to household staff, could own a stake in the refinery. Eligible international investors can also subscribe without a Nigerian bank account.
Proceeds will go toward growth capital expenditure. The company plans to spend $14.3 billion to double the refinery’s processing capacity to 1.4 million barrels per day by 2029.
Prospective investors are advised to read the full prospectus and consult a licensed stockbroker before subscribing.
Administrator and Writer
