Financial expert and Professor of Accounting at Lead City
University, Godwin Oyedokun, has detailed the implications of the recent
Securities and Exchange Commission, SEC, approval of Dangote Refinery’s Initial
Public Offering, IPO, at N525 per share for investors in Nigeria, Africa’s most
populous country.
Oyedokun made this disclosure in an exclusive interview ahead
of Dangote Refinery’s listing in September 2026.
Recall that the Dangote Group announced that SEC had granted
approval for its 700,000-barrel-per-day refinery.
Details showed that the landmark Dangote Refinery IPO aims
to raise roughly $1.6 billion by issuing 4.1 billion ordinary shares at N525
per share ahead of its primary listing on the Nigerian Exchange, NSE.
This comes after Dangote Group President Aliko Dangote
confirmed that the refinery’s IPO is set to open on September 14.
The planned listing of Africa’s largest refinery has
continued to stir interest among prospective investors.
Speaking on the development, Oyedokun explained that the SEC
approval of Dangote Petroleum Refinery’s IPO at N525 per share is a significant
development for Nigeria’s capital market and investors.
He said it provides Nigerians and institutional investors
with an opportunity to own shares in one of Africa’s largest industrial assets
and could mobilise about N2.15 trillion if the 4.1 billion shares on offer are
fully subscribed.
“For investors, therefore, the IPO represents a potentially
attractive long-term opportunity. Investors should study the prospectus,
financial performance, debt position, projected earnings, dividend policy and
valuation against comparable international refiners before subscribing.
“For Nigeria, the transaction is even more significant
because it could deepen the capital market, increase domestic ownership of
strategic assets, attract institutional and foreign investment, and provide a
new benchmark for valuing large Nigerian industrial companies,” he said.
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com