The Nigerian Exchange Group (NGX Group) says the Dangote Refinery Initial Public Offering (IPO) attracted investors from 120 countries, including all 54 African countries.
The Chairman of NGX Group, Alhaji Umaru Kwairanga, disclosed this in a statement on Wednesday following the closure of the offer on Tuesday.
Kwairanga described the offer as a historic milestone for Nigeria and Africa, saying it had promoted broader African ownership, wealth creation and the deepening of the Nigerian capital market.
He attributed the successful completion of the offer to the dedication, resilience and commitment of the NGX Group’s board, management and staff throughout the six-week process.
The chairman also appreciated the Group Chief Executive Officer, Temi Popoola, and other members of the group and its subsidiaries for their support and contributions.
According to him, every application received represented an investor reached and another step towards expanding participation in the capital market.
“We have successfully closed an extraordinary journey that began on 14 September!
“From the streets of Nigeria to investors who applied for the shares across the 120 countries in the world, including all 54 African countries, your energy, dedication and relentless efforts have helped deliver a truly historic People’s IPO,” he said.
Kwairanga said the achievement went beyond an IPO, describing it as a landmark moment for Nigeria and Africa that would inspire future generations.
He commended the NGX Group team for making the organisation, Nigeria and Africa proud.
The Dangote Refinery IPO opened on Sept. 14 and ran for six weeks before closing on Tuesday.
