The Dangote Petroleum Refinery and Petrochemicals has set the minimum subscription for its proposed initial public offering (IPO) at ₦5,250, giving investors access to the offer with as little as 10 ordinary shares.
Aliko Dangote, president and chief executive officer of Dangote Industries Limited, disclosed the minimum subscription requirement on Monday at a signing ceremony held in Lagos.
According to Dangote, investors will be required to subscribe for a minimum of 10 ordinary shares, with the total investment amounting to ₦5,250.
The proposed IPO is expected to provide members of the public with an opportunity to acquire an equity stake in the Dangote refinery, one of Africa’s largest oil-refining projects.
Further details on the offer, including the full terms, pricing structure and subscription timeline, are expected to be released as the transaction progresses.
