Dangote Petroleum Refinery and Petrochemicals FZE is seeking to raise $1.6 billion through an initial public offering (IPO), described as Africa’s and Nigeria’s biggest IPO. According to a signed prospectus and company statements reported by Bloomberg, the offer involves 4.1 billion shares priced at 525 naira each.
The sources agree on the key financial terms: the share count, the offer price, and the target raise of $1.6 billion. Bloomberg adds additional procedural details, saying the IPO opens on Sept. 14, while also citing a company spokesman regarding the figures. Moneyweb focuses on the signed prospectus and the fundraising amount, without discussing the opening date. Overall, both outlets present the IPO as a major capital-raising event tied to Aliko Dangote’s refining and petrochemicals business and mark the latest step toward listing on Nigeria’s market.
