Di planned public listing of Dangote Petroleum Refinery don cause big-big investor interest wey never happen before across Nigeria and outside, according to one Bloomberg report.
According to di report wey dem publish on Thursday, di proposed Initial Public Offering, wey dem expect to take place for September 2026, fit raise as much as $2bn and become di biggest stock market listing for Africa history.
Di report say demand for shares for di refinery don already increase ahead of di offering, as e dey attract interest from institutional investors, rich Nigerians, and first-time retail investors wey eager to get hand for wetin many people consider as one of di continent most strategic industrial assets.
Bloomberg report say institutional investors don already show interest wey reach nearly $2bn even before di formal launch of di IPO, wey show say confidence dey grow for di refinery prospects and Nigeria capital market.
Di offering dey expected to value di refinery at about $40bn, although some market estimates put di potential valuation as high as $50bn.
Di report read, "Dangote Petroleum Refinery and Petrochemicals FZE plan to raise as much as $2bn for Africa biggest initial public offering don spark investor frenzy across Nigeria, as e dey draw interest from some of di country richest people to first-time investors. One rare public market debut for industrial asset of dis size for di continent go be one once-in-a-generation test of market depth."
Dangote Petroleum Refinery plan to sell about 10 per cent of their equity through di offering, wey dem expect to list across many African exchanges, including Nigerian Exchange Limited.
Di refinery, wey belong to Africa richest man, Aliko Dangote, don become one transformative force for Nigeria energy sector since e begin operation. Di facility wey dey inside Lekki Free Trade Zone for Lagos, don reportedly increase production to about 700,000 barrels per day, wey make am one of di biggest single-train refineries for di whole world.
Dis development don change Nigeria long-time dependence on imported petroleum products, even though Nigeria be one of Africa leading crude oil producers.
Bloomberg note say di refinery don help shift Nigeria from being major importer of gasoline to becoming net exporter of refined petroleum products to regional markets.
