Dangote IPO Gives Nigerians Access To World-Scale Business – FCMB

The Group Chief Executive of First City Monument Bank, Ladi Balogun, has said the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals provides Nigerians with access to a world-scale business and demonstrates the growing depth of the country's capital market. The refinery is offering 4.1 billion ordinary shares at N525 per share, with the offer valued at about N2.15 trillion if fully subscribed. The IPO opened on September 14 and is scheduled to close on October 13. Balogun spoke at the Nigerian Exchange in Lagos as investors commenced subscriptions.

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