Beyond the Dangote IPO: What Happens When the Promise Is Tested
Beyond the Dangote IPO: What Happens When the Promise Is Tested By Tony Usidamen Unless you have been deliberately avoiding the news lately, chances are that you have heard something about the Dangote Refinery Initial Public Offering (IPO). It is difficult not to.Open your email or banking app and you are likely to find an invitation to subscribe. Take a leisurely scroll through social media and you will be hit with a barrage of posts on the subject, with some content creators even making funny videos calling board meetings and demanding explanations from Aliko Dangote about how “our refinery” is being run, after buying a few shares. The posts may be light-hearted, but the interest is real. Dangote Petroleum Refinery is seeking to raise about N2.15 trillion from the public through the sale of 4.1 billion shares at N525 each. With a minimum subscription of just 10 shares, or N5,250, the offer has opened the door to retail investors on an unusually broad scale. Som...