Dangote targets 10m shareholders as Refinery IPO opens

By Olakunle Oke, Marvellous Uzoma and Kamsy GbenobaThe Dangote Petroleum Refinery and Petrochemicals has commenced its Initial Public Offering (IPO), with President of Dangote Industries Limited, Aliko Dangote, targeting 10 million shareholders across Africa in what he described as an “IPO for the people.”
The refinery is offering its shares at N525 each, with a minimum subscription of 10 shares, as it seeks to raise more than N2 trillion to fund its expansion programme.
However, Da