Dangote Refinery Says Initial Public Offering Proposal Not Yet Firmed Up

Dangote Petroleum Refinery and Petrochemicals has promised to issue formal announcement with regard to its proposed Initial Public Offering.

The refinery assures stakeholders that, when appropriate, comprehensive, and accurate details regarding any proposed transaction will be made available through official channels, including regulatory filings, authorised press releases, and coordinated communications by the Enterprise and its appointed advisers.

It says the communication is for information purposes only and does not constitute, or form part of, an offer to sell or a solicitation of an offer to buy any securities.

According to the management, any such offer, if made, will be undertaken solely on the basis of duly authorised offer documentation and in compliance with all applicable laws and regulatory requirements.

The clarification is coming after the management observed recent circulation of unauthorised information across various media and social platforms regarding a potential Initial Public Offering.

The refinery notes that several online platforms and unofficial sources have published unverified, and in some instances inaccurate, information relating to a potential offering. Such reports do not originate from the Dangote Refinery and should be treated with caution, it warned.

“All official updates regarding any potential transaction will be communicated strictly through DPRP’s formal public disclosures and announcements issued by its appointed advisers, in line with applicable laws and regulatory requirements.

“Accordingly, the public, investors, and all market participants are strongly advised to disregard speculative commentary and rely solely on verified information formally issued by DPRP or its authorised representatives.

“The DPRP remains committed to the highest standards of transparency, corporate governance and market integrity. The Enterprise also underscores the importance of responsible public communication and urges commentators, analysts and social media influencers to rely only on authenticated information,” the firm said in a statement.