President of Dangote Industries Limited, Aliko Dangote, has projected that shares of the Dangote Petroleum Refinery, currently priced at N525, could rise to as much as N10,000 in the future.
Dangote also assured small-scale investors interested in the refinery’s Initial Public Offering that they would receive priority in the allocation of shares.
Speaking in Hausa during an interview with Abis Fulani, translated by Google Gemini, Dangote said retail investors seeking to purchase shares worth N50,000, N100,000 and other smaller amounts would be prioritised over large institutional investors.
He said, “When you do something like this—what is called an IPO—all the small-scale investors are the ones who will be given priority first.
“The big institutional investors who request large allocations will not get everything they ask for. But the small retail investors who want to buy N50,000 worth, or some buying N100,000 worth, and so on, they are the ones who will be given priority allocations.”
On the potential growth in the share price, Dangote said the current N525 offer price could appreciate significantly over time.
He said, “As I was saying, this share, if you look at it, we are currently at N525. A day will come when this share will reach N10,000.