Nigeria’s Dangote Oil Refinery goals to boost about $1 billion via a non-public placement, valuing the corporate at about $39.1 billion, in line with sources and providing paperwork.
- The refinery is providing 3 billion shares of frequent inventory at $0.35 every, and investor demand has already exceeded $2 billion, folks mentioned.
- Buyers should buy a minimal of 1 million shares ($350,000) and buy further shares in multiples of 500,000 shares. Shares are topic to a 365-day lock-up interval.
- Proceeds can be used for growth and basic company functions because the refinery ramps up operations and strengthens its market place, paperwork present.
- The 650,000 barrels per day refinery, which started manufacturing in 2024, has expanded manufacturing of diesel, aviation gasoline, naphtha and gasoline, considerably decreasing Nigeria’s dependence on imported refined merchandise.
- Dangote officers didn’t reply to requests for touch upon the association.
- In response to the providing doc, market individuals anticipate additional funding in logistics, storage and distribution infrastructure, in addition to potential growth into the petrochemical sector.
- The funding might pave the way in which for a future itemizing, with billionaire proprietor Aliko Dangote beforehand suggesting an inventory might occur later this 12 months.
