Retail and small investors have been assured of receiving priority allocation should the ongoing Initial Public Offering (IPO) of Dangote Petroleum Refinery become oversubscribed.
The assurance was given by the President and Chief Executive of Dangote Industries Limited, Aliko Dangote, while reaffirming his commitment to making the offer a truly “People’s IPO.”
Dangote emphasised that while the Company welcomes participation from all categories of investors, allocation decisions in the event of oversubscription would be guided by the principle of broad-based ownership.
“We are determined to ensure that ordinary Nigerians are not crowded out by large subscriptions. Our objective is not merely to raise capital, but to create millions of shareholders who can participate in the growth and prosperity of the Dangote Refinery. We want as many people as possible to own a stake in this national asset.”
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The offer, according to Dangote, was deliberately structured to broaden ownership of one of Africa’s most strategic industrial assets and provide millions of Nigerians with an opportunity to participate directly in the refinery’s growth and future value creation.
The IPO is designed to deepen financial inclusion and democratise wealth creation by attracting not less than 10 million investors from Nigeria and across the continent.
