Nigeria’s Dangote Petroleum Refinery is set to open the door to public investors with a proposed Initial Public Offering (IPO) priced at ₦525 per share, in a deal that could raise about $1.5 billion and rank among the biggest share offerings in Africa.
At the proposed price, Nigerians interested in buying into the refinery would need:
- 100 shares — ₦52,500
- 1,000 shares — ₦525,000
- 10,000 shares — ₦5.25 million
- 100,000 shares — ₦52.5 million
The company is reportedly planning to sell 4.1 billion shares, with a possible 15 per cent greenshoe option if demand exceeds expectations. The fundraising is expected to support plans to expand the refinery’s production capacity from 650,000 barrels per day to 1.4 million barrels per day.
The proposed IPO price has now become a major talking point among investors, with many Nigerians watching closely to see how much it will cost to own a stake in one of Africa’s biggest industrial projects.
