Dangote Refinery Launches ₦2.15trn IPO, Sets Minimum Investment at ₦5,250
Dangote Petroleum Refinery has formally signed the agreements for its much-anticipated Initial Public Offering (IPO), paving the way for what is expected to become the largest equity offer in the history of Nigeria’s capital market.
The landmark transaction introduces a digital subscription model designed to expand access to the refinery’s ownership, allowing retail investors to participate with as little as ₦5,250.
Under the offer, the refinery will make 4.1 billion ordinary shares available to the public at ₦525 per share.
The offering is expected to raise approximately ₦2.157 trillion, equivalent to about $1.6 billion, which will be used to fund growth capital expenditure and support the refinery’s continued expansion.
A key feature of the IPO is its focus on widening retail participation through digital distribution channels, potentially allowing a broader segment of Nigerians to become shareholders in one of the country’s largest industrial projects.
The minimum subscription has been fixed at 10 shares, translating to an initial investment of ₦5,250. Investors wishing to increase their holdings can subscribe in additional multiples of 10 shares.
The signing of the IPO agreements marks a significant step towards the public listing of Dangote Petroleum Refinery and sets the stage for what could be a defining transaction for Nigeria’s capital market and the country’s drive to deepen local ownership of major assets.
Enjoyed this? Get the morning brief.
News from Nigeria and Africa, in one free email every day.
