en.Wedoany.com Reported - Dangote Petroleum Refinery and Petrochemical Company has launched a $1 billion private placement, issuing 3 billion ordinary shares at $0.35 per share to raise funds for its future expansion. The placement began on June 1 and will close on June 10, with a minimum subscription of 1 million shares ($350,000) and additional subscriptions required in multiples of 500,000 shares. The issuer has the right to increase shares in the event of oversubscription, subject to board approval.

The placement is led by Vetiva Advisory Services Limited, with FirstCap Limited acting as co-issuing institution. Proceeds will be used for ongoing expansion plans and other corporate purposes. Investors are subject to a 365-day lock-up period from the placement date, indicating the company's pursuit of long-term capital rather than short-term trading. The placement memorandum also disclosed that as of March 3, 2026, the company is involved in five pending lawsuits, though their nature was not detailed.

Valued at $39.1 billion, Dangote Petroleum is asking investors to demonstrate confidence in Nigeria's energy prospects and the execution capabilities of this founder-led, privately held enterprise. Located in the Lekki Free Zone outside Lagos, the refinery spans 2,635 hectares with a designed nameplate capacity of 650,000 barrels per day. At full capacity, it is expected to end Nigeria's decades-long dependence on imported refined petroleum products.

Dangote has spent nearly 20 years and over $20 billion on this project. This private placement offers an opportunity to participate in the development of this asset, with terms and pace set by the founder.

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