‘Vetiva Acting as Lead Adviser to Dangote Petroleum Refinery IPO’

Kayode Tokede  

Vetiva Advisory Services Limited has said that is acting as Lead Adviser to the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP), in what is expected to be one of the most significant capital market transactions in Nigeria.

The IPO has received the approval of the Securities and Exchange Commission (SEC) and is scheduled to open for subscription today.

“As Lead Adviser, Vetiva Advisory Services Limited is leading the advisory and transaction coordination process, working closely with DPRP, other professional parties and relevant market institutions towards the successful execution of the landmark transaction.

“The Offer will comprise an offer for subscription of up to 4.1 billion ordinary shares in DPRP. The final terms of the Offer, including the issue price and offer timetable, will be set out in the SEC-registered Prospectus.

“The role of Vetiva Advisory Services Limited as Lead Adviser to the transaction further reinforces Vetiva’s position as a leading investment banking franchise and its track record in structuring and executing landmark capital market transactions in Nigeria. It also reflects Vetiva’s continued commitment to initiatives that deepen Nigeria’s capital markets, broaden investor participation and facilitate the mobilisation of long-term capital for strategically important enterprises,” it said in a statement.