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🇳🇬 Nigeria /Economy & Trade

Dangote Refinery unveils N2.15trn IPO at N525 per share

From Vanguard · () English

Summarized by DistantNews. Read the original for the full story.

At a glance

News Sources not specified New plan
  • Dangote Petroleum Refinery announced a N2.15 trillion IPO offering 4.1 billion ordinary shares at N525 each.
  • The offer gives Nigerians and other Africans a chance to buy shares in the 700,000-barrel-per-day refinery, with a minimum subscription of 10 shares costing N5,250.

Dangote Petroleum Refinery and Petrochemicals FZE has unveiled a N2.15 trillion initial public offering, opening a route for Nigerians and other Africans to acquire shares in the 700,000-barrel-per-day refinery.

The offer covers 4.1 billion ordinary shares priced at N525 each. Investors must subscribe for at least 10 shares, valued at N5,250.

The company announced the offering on Monday. The source also identified the company’s chief executive as involved in the announcement, but the supplied report does not provide further details from the ceremony.

About this summary

Originally published by Vanguard. Summarized and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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