DANGOTE: RETAIL INVESTORS TO GET PRIORITY IN OVERSUBSCRIBED REFINERY IPO
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By: Fasasi Hammad
President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has assured retail and small investors that they will receive priority consideration if the ongoing Initial Public Offering (IPO) of Dangote Petroleum Refinery is oversubscribed.
Dangote described the offer as a genuine “People’s IPO”, saying it was designed to broaden ownership of one of Africa’s strategic industrial assets and give millions of Nigerians an opportunity to participate directly in the refinery’s growth and future value creation.
He said the IPO is aimed at promoting financial inclusion, democratising wealth creation and building one of Africa’s largest shareholder communities, with a target of attracting at least 10 million investors from Nigeria and across the continent.
Speaking on the public offer, Dangote said the initiative goes beyond raising capital, describing it as an opportunity to enable ordinary Nigerians to become co-owners of a world-class industrial enterprise.
He stressed that although the company welcomes investors from all categories, retail and small investors would receive priority consideration in the event of oversubscription.
According to him, the objective is to ensure that ordinary Nigerians are not crowded out by large subscriptions, but are given an opportunity to own a stake in the refinery and benefit from its growth.
Dangote said the decision to prioritise retail investors reflects his belief that economic development should be accompanied by broad citizen participation and ownership.
He noted that the IPO represents a major step towards creating an ownership economy in which civil servants, artisans, traders, professionals, cooperative societies, pension contributors, young entrepreneurs and Nigerians in the diaspora can participate directly in the refinery.
He added that the offer was designed to be simple, transparent and technology-driven, with BVN-enabled subscription channels intended to remove traditional barriers that have limited participation in Nigeria’s capital market.
Expressing confidence in the offer, Dangote said the IPO would deepen the Nigerian capital market while providing a landmark example of inclusive wealth creation.
He said the ambition is to build a shareholder base of at least 10 million investors and make the refinery one of the most widely owned companies in Africa.
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