By Peter Egwuatu
Vetiva Advisory Services Limited has emerged as Lead Adviser to the proposed Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP), amidst several other parties to the landmark offer.
The IPO, which opened yesterday is for 4.1 billion ordinary shares at N525 per share, with the company expected to raise approximately N2.15 trillion if the offer is fully subscribed.
As Lead Adviser, Vetiva is coordinating the advisory and transaction process, working closely with DPRP, other professional parties and relevant market institutions to ensure the successful execution of the transaction.
The appointment further strengthens Vetiva’s position in Nigeria’s investment banking market and its track record in structuring and executing major capital market transactions.
It also reflects the firm’s continued commitment to initiatives aimed at deepening Nigeria’s capital markets, broadening investor participation and mobilising long-term capital for strategically important enterprises. Information available to Vanguard showed that the Securities and Exchange Commission, SEC, has registered DPRP’s existing 120.13 billion ordinary shares, paving the way for the company’s proposed listing on the Nigerian Exchange Limited (NGX).
The IPO is intended to broaden DPRP’s ownership base and raise additional equity capital to support the company’s growth and strategic objectives.
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