Nigerian singer Davido joined businessman Aliko Dangote in New York as the public offer for shares in the Dangote Petroleum Refinery and Petrochemicals gained international exposure.
The pair appeared beneath a Nasdaq digital billboard in Times Square on Tuesday as part of the publicity surrounding the refinery’s ongoing initial public offering.
The appearance came as the company seeks to attract wider participation in the share offer, which opened on September 14 following its launch at the Nigerian Exchange in Lagos.
The offer comprises 4.1 billion ordinary shares at ₦525 each, with a minimum subscription of 10 shares valued at ₦5,250.
If fully subscribed, the offer is expected to raise about ₦2.15tn, making it one of the largest share offerings in Nigeria.
The offer is open to Nigerian and eligible African retail and institutional investors and is scheduled to close on October 13.
The Times Square display featured the message, “Made in Nigeria. Built for the World”, highlighting the refinery as a Nigerian-owned business seeking international visibility.
The refinery, located in the Lekki area of Lagos, has a stated processing capacity of about 650,000 barrels per day and produces petrol, diesel, aviation fuel and liquefied petroleum gas.
Dangote Industries said proceeds from the share sale would be used to support the refinery’s expansion plans.
The company has also indicated plans to pursue wider ownership of other businesses within the group, including its fertiliser operation.
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