The Dangote Group is set to create the largest equity cluster on the Nigerian Exchange, with its listed companies valued at approximately N83.5 trillion following the initial public offering of Dangote Petroleum Refinery. Aliko Dangote, President/CEO of Dangote Industries Limited, disclosed this on Monday at the Facts Behind the Offer presentation for the $2.15 billion IPO of Dangote Petroleum Refinery & Petrochemicals FZE. The offer involves 4.1 billion ordinary shares at N525 per share, with a minimum subscription of 10 shares or N5,250. Independent analysis estimates the refinery's implied market capitalisation at about N65.22 trillion, and Dangote noted that with Dangote Cement and Dangote Sugar Refinery already listed, the refinery's addition could create an equity cluster of approximately N83.5 trillion.
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