Aliko Dangote, President of Dangote Refinery, has revealed that investors from 200 countries participated in the company’s recently concluded Initial Public Offering (IPO). The Nigerian industrialist disclosed the figures during an interview at the WIMBIZ Annual Conference, highlighting the global scale of the event.
According to Dangote, 54 African nations were among the participating countries, meaning that every country on the African continent was represented in the offering. He noted that the refinery strategically set the offer price at N525 per share to ensure the IPO remained accessible to the general public.
“Two hundred countries participated in the IPO, out of which 54 African countries participated. In fact, all African countries participated,” Dangote stated.
The offering, which has been dubbed the “People’s IPO,” officially closed on October 27, 2026. The primary objective of the exercise was to raise N2.15 trillion for the company.
To achieve this target, Dangote Refinery offered 4.1 billion ordinary shares to investors. The decision to peg the price at N525 per share was a deliberate move to broaden participation and engage a wider demographic of investors both within Nigeria and across the globe.
<small>Source: Daily Post Nigeria — read the original story there.</small>
