Add as a preferred source on GoogleDangote Refinery Offer Draws Estimated ₦5.85 Trillion in Applications
The estimate was about $4.1 billion, nearly three times the ₦2.1525 trillion maximum gross proceeds; final subscription figures were pending at closing.
People familiar with the transaction estimated applications for Dangote Petroleum Refinery and Petrochemicals FZE’s share offer at about ₦5.85 trillion ($4.1 billion), nearly triple the maximum gross proceeds; final subscription figures were pending at closing.
The offer made up to 4.1 billion ordinary shares available at ₦525 apiece. A full take-up would produce ₦2.1525 trillion in gross proceeds.
The offer closed Oct. 27, with applications still under review and allotment underway; final subscription and allotment totals had not been released at closing.
Allotment is scheduled for Tuesday, Nov. 17. The shares are planned to list 15 business days after allotment.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.