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Dangote Petroleum Refinery has set a minimum subscription of ₦5,250 for its upcoming Initial Public Offering (IPO), allowing retail investors to buy into the company with as little as 10 shares.
The company formally signed agreements for the IPO, marking the official commencement of what is projected to be the largest equity offer in the history of Nigeria's capital market.
Under the offer, the refinery will make 4.1 billion ordinary shares available to the public at ₦525 per share, with plans to raise about ₦2.157 trillion (approximately $1.6 billion).
The funds will be used to finance growth projects and support the refinery's ongoing operational expansion.
Dangote Refinery said the offer is designed to widen public ownership by making share purchases more accessible to retail investors through a low entry threshold and digital subscription channels.
While the minimum investment is set at 10 shares valued at ₦5,250, additional subscriptions will be accepted in multiples of 10 shares.
