DETAILS of where to buy the shares of the Dangote Petroleum Refinery’s upcoming IPO have emerged.
According to the company, for retail investors, applications will be made exclusively through electronic channels, including participating bank applications, specified fintech platforms and stockbroking platforms.
The refinery said qualified institutional investors will be able to subscribe electronically or complete investor application forms and submit them through receiving agents listed in the offer document.
Aliko Dangote, chief executive officer (CEO) of Dangote Group, had said the refinery’s proposed IPO has a minimum subscription requirement of 10 ordinary shares, culminating in N5,250 per unit.
The refinery will list on the main board of the Nigerian Exchange (NGX) and all shares offered in the transaction will have rights and ranking equally with the existing ordinary shares of the refinery.
The offer would open on September 14, subject to the approval of the Securities and Exchange Commission (SEC), and close on October 13.
