In First Hour, Dangote Refinery’s $1.6B IPO Surges
Dangote is offering 4.1 billion shares at N525 each, targeting about $1.6 billion IPO More than $7 million (N10 billion) was committed by thousands of investors within the first hour of Dangote Petroleum Refinery’s initial public offering. This momentum signals strong early interest and aligns with expectations for the $1.6 billion IPO, which could become Africa’s largest-ever share sale. The Nigerian energy company opened the offer on Monday, September 14, seeking to raise about $1.6 billion (N2.15 trillion) through the…
FULL LIST: Dangote Refinery approves 32 channels to buy shares
Dangote Refinery has released 32 institutions for it’s IPO Dangote Refinery and Petrochemicals FZE has approved 32 banks, fintech companies, mobile network operators and investment platforms through which investors can subscribe for its shares when its public offer opens.The company disclosed the approved channels on its official initial public offering (IPO) website, urging prospective investors to use only the listed platforms when subscribing for shares.According to the company, the approved subscription channels include 19 banks, 10 fintech firms, two mobile…
Dangote Refinery IPO: 10 things Nigerian investors must know before buying
SEC’s approval clears the way for Dangote refinery IPO Issue The Securities and Exchange Commission, SEC’s approval clears the way for a potential ₦2.15 trillion Initial Public Offering, IPO, giving public investors an opportunity to own a stake in one of Africa’s largest industrial assets. The proposed IPO of Dangote Petroleum Refinery and Petrochemicals FZE is shaping up to be a landmark transaction for Nigeria’s capital market. The SEC approved the commencement of the offering, clearing the refinery’s draft offer…
Donald Trump announces fresh ‘economic warfare’ on Iran
US not done with economic warfare on Iran, yet Tehran is not conceding Donald Trump has said the US is mounting a fresh campaign of “economic warfare” against Iran, while warning that there would be “tremendous” consequences for any country that trades with the Islamic republic. “I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY!” the US president said in a post on his Truth Social platform late on Wednesday. “This will be an ECONOMIC D-DAY,…
Trump considers ‘pay-to-play’ Nato, with members banned from strategic decisions if they’ve not hit five per cent spending target
President Trump is considering a ‘pay-to-play’ Nato President Trump is considering a ‘pay-to-play’ Nato, with members who fail to hit a five per cent spending target banned from key decisions. The proposed Nato shake-up would see block allies who don’t meet a spending target set by Trump excluded from strategic votes – including when the bloc goes to war. It is one of several plans the US president is weighing up after allies rejected his demand to send warships to reopen the…