Dangote Refinery

Africa’s biggest refinery opens its doors to public investors with a N2.15 trillion share offer, as Aliko Dangote signals plans to take more group companies public.

The offer comprises 4.1 billion new ordinary shares priced at N525 each, according to a statement issued by the company on Sunday. The minimum subscription is 10 shares, costing N5,250.

The subscription channels available to prospective investors include the Zenith Bank website, Zenith mobile application, internet banking, USSD, corporate internet banking and any of the bank’s branches nationwide.

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.