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Chief executive officer of Dangote Group, Aliko Dangote, has disclosed that the proposed initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE will have a minimum subscription requirement of 10 ordinary shares, valued at N5,250.
Dangote disclosed this on Monday at a signing ceremony in Lagos.
Dangote plans to open the order book for the refinery’s initial public offering on September 14, selling 4.1 billion shares at N525 apiece, out of 120.13 billion ordinary shares that the Securities and Exchange Commission has now formally registered.
The proposed IPO is expected to allow investors to acquire shares in the Dangote refinery and petrochemicals business, one of Nigeria’s largest industrial firm.
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