Olaniwun Ajayi LP has described the Dangote Petroleum Refinery and Petrochemicals FZE Initial Public Offering, involving up to 4.1 billion ordinary shares, as an important precedent in the Nigerian capital market. The firm said in a statement on Monday that it acted as Joint Solicitor to the transaction and advised on the legal aspects of the offer, from transaction structuring and regulatory engagement through to launch. According to a Forbes report on Monday, Aliko Dangote's fortune rose to $51.3 billion following the launch of the IPO on the Nigerian Exchange amid strong investor demand on the opening day. The transaction was brought to the market by a consortium of professional advisers, including Olaniwun Ajayi LP as Joint Solicitors to the issue.
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