Dangote Refinery

Flutterwave is bringing a new digital payment route to Dangote Petroleum Refinery and Petrochemicals' ₦525-per-share IPO, allowing Nigerians at home and abroad to fund subscriptions through web and mobile channels.

The nine material cases met the ₦100 million materiality threshold and relate to disputes arising in the ordinary course of the refinery’s operations.

The company plans to sell 4.1 billion shares at ₦525 each, potentially raising about ₦2.15 trillion, with the offer targeting millions of retail investors. Trading is expected to begin on the Nigerian Exchange in November.

Dangote Refinery will open its public offer for 4.1 billion ordinary shares at ₦525 each, with the company seeking to raise about ₦2.15 trillion. The offer will run until October 13, giving investors four weeks to decide if they want to become shareholders.

Dangote Petroleum Refinery and Petrochemicals FZE could be worth significantly more than the valuation implied by its planned Nigerian Exchange (NGX) listing, according to independent estimates from CardinalStone Research and Chapel Hill Denham.

The Securities and Exchange Commission has approved the sale of 4.1 billion shares at ₦525 each, potentially raising about ₦2.15 trillion, or $1.63 billion. The offer is scheduled to run from September 14 to October 13, with the shares expected to begin trading in November.

Investors have started selling existing shares to make room for Africa’s biggest IPO, raising an important question for Nigeria’s capital market about how much money the Dangote deal can pull out of everything else.

The signing ceremony for the Dangote Petroleum Refinery’s initial public offering marked a major step in the company’s plan to take the refinery to the capital market.

Dangote Refinery has completed the endorsement of its offer documents, clearing the way for its $1.6 billion initial public offering, which is scheduled to open next week.

The company’s Managing Director and Chief Executive Officer, Olajumoke Cecilia Ajayi, disclosed this at the AOW Energy Conference in Accra, Ghana, during a session titled, ‘The Future of the African Operator: Building the IOCs of Tomorrow’.