Dangote Petroleum Refinery and Petrochemicals has signed registration documents for an Initial Public Offering (IPO) valued at approximately N2.2 trillion ($1.6 billion), the largest in Africa. The IPO aims to democratize ownership by targeting up to 10 million Nigerian investors, including low-income earners, through a BVN-integrated subscription process. The offer comprises 4.1 billion ordinary shares at N525 each, with an overallotment option of up to 30 percent. The IPO is scheduled to open in September.
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