Dangote refinery. Photo: Dangote
The Securities and Exchange Commission has approved the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals FZE, with the company offering 4.1 billion ordinary shares at ₦525 each.
The offer could raise approximately ₦2.15tn if fully subscribed, according to a statement issued by the Dangote Group on Friday.
The development comes shortly after PUNCH Online reported that the refinery’s owner, Aliko Dangote, had said the IPO would open within 10–12 days.
The SEC’s approval now clears the way for the next stages of the offering.
