The Capital Markets Authority (CMA) of Rwanda has started negotiations with pertinent parties to enable Rwandan investors to participate in the initial public offering (IPO) of Dangote Petroleum Refinery,
In a statement released on Wednesday, the regulator stated that it had seen a lot of interest in the prospects provided by capital markets and that it was trying to make it easier for investors to participate in the Dangote Refinery offer.
“The Capital Markets Authority of Rwanda is working with relevant stakeholders to facilitate participation by Rwandan investors in the Dangote Petroleum Refinery IPO,” the statement said, adding, “We are encouraged to see the strong interest in the opportunities afforded by capital markets.”
The CMA said interested investors could, in the meantime, register their interest with United Capital Financial Services Rwanda Ltd through its designated platform.
It, however, clarified that registration of interest does not constitute subscription for, or allocation of, shares.
The regulator said further information on arrangements for participation in the IPO would be communicated in due course.
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Dangote Refinery is raising capital from investors as it moves towards listing its shares on the Nigerian Exchange, NGX.
Aliko Dangote, President and CEO of Dangote Industries Limited (DIL), has reiterated his commitment to making the current Dangote Petroleum Refinery Initial Public Offering (IPO) a truly “People’s IPO,” guaranteeing retail and small investors priority allocation in the event that the offer is oversubscribed.
Speaking on the public offer, Aliko Dangote said: “This is more than a capital-raising exercise. It is a historic opportunity to deepen financial inclusion, democratise wealth creation and enable ordinary Nigerians to become co-owners of a world-class industrial enterprise. From the beginning, our vision has been to create a genuine People’s IPO that allows millions of Nigerians to share directly in the success of this refinery.”
He explained that the offer was deliberately structured to broaden ownership of one of Africa’s most strategic industrial assets and give millions of Nigerians an opportunity to participate directly in the refinery’s growth and future value creation. The IPO is designed to deepen financial inclusion and democratise wealth creation by opening ownership to a wider segment of society.
