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Seven things to know about the Dangote refinery IPO

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Dangote Petroleum Refinery has opened its initial public offer to investors. Here are the key details.

1. The company is seeking about ₦2.15 trillion

The offer comprises 4.1 billion ordinary shares priced at ₦525 each. If fully subscribed, it will raise approximately ₦2.15 trillion.

2. The offer runs for one month

The IPO opened on September 14, 2026, and is scheduled to close on October 13, 2026.

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3. Investors can start with ₦5,250

The minimum subscription is 10 shares. At ₦525 per share, eligible investors can participate with ₦5,250.

4. The IPO will broaden ownership of the refinery

Aliko Dangote described the transaction as an “IPO for the people.” Its low entry point is intended to give Nigerians across different income and professional groups an opportunity to own shares in the business.

5. The transaction could reshape Nigeria’s capital market

FCMB Group Chief Executive Ladi Balogun said the offer could strengthen the Nigerian Exchange and support its ambition to become Africa’s largest and most relevant capital market.

The transaction may also encourage other large African companies to raise capital and list their shares in Nigeria.

6. FCMB Group is participating in the transaction through three operating companies:

FCMB Capital Markets is a joint issuing house. CSL Stockbrokers is the stockbroker to the issue. First City Monument Bank is a receiving bank and distribution agent.

7. Qualified Investors and High Net Worth Individuals purchasing 50,000 shares and more, with a working stockbroking account should fill out the investor subscription form and credit their account of choice, sending both to FCMB Capital Markets at the following email address: [email protected]

8. Interested Retail investors with an FCMB bank account can subscribe to the DPRP IPO by following these steps: Log in to the FCMB Mobile App or visit website

Follow the prompts to the Dangote IPO subscription portal.

READ ALSO: Bamboo, Cowrywise down due to Dangote Refinery IPO subscription traffic

Select if you have a CSCS/CHN number.

If yes, fill in the number and follow the instructions.

If not, follow the prompts to open a trading account with CSL Stockbrokers, after which a code will be generated for you.

Ensure your FCMB bank account is sufficiently funded to cover your subscription and authorize the direct debit.

Investors without an FCMB bank account who want to participate in the DPRP IPO can visit the CSL portal to open a stockbroking account. Instructions for opening a bank account are available online.


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Business

Linkage Assurance, DiasporaCare+, Insurance Protection, Nigerians Abroad, Diaspora

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Linkage Assurance Plc has formally unveiled DiasporaCare+, an innovative insurance solution designed to help Nigerians living abroad provide structured insurance protection for their , assets, liabilities and  valued interests back home.

The product was formally unveiled by the Managing Director/Chief Executive Officer of Linkage Assurance Plc, Mr. Daniel Braie, as part of the company’s broader strategy to deepen insurance penetration, expand access to protection and develop solutions around the evolving needs of Nigerians at home and abroad.

A Bridge Between the Diaspora and Home

DiasporaCare+ recognises a simple reality: while millions of Nigerians live and work outside the country, they continue to maintain strong family, financial and economic ties with Nigeria.

The solution therefore provides a dependable insurance framework through which Nigerians abroad can protect what matters to them at home.

Speaking at the unveiling, Mr. Daniel Braie, Managing Director/CEO of Linkage Assurance Plc, described DiasporaCare+ as an expression of the company’s commitment to customer-focused innovation and greater financial inclusion.

“DiasporaCare+ is about giving Nigerians abroad greater confidence that the people and interests they care about at home can have access to meaningful insurance protection. We are extending the value of insurance beyond geographical boundaries and providing a dependable bridge between our diaspora community and home.”

Four Solutions, One Protection Ecosystem

DiasporaCare+ brings together four complementary areas of protection, creating a broader insurance ecosystem around the needs of Nigerians in the diaspora and their connections at home.

The four components are:

1.Diaspaora Travel Insurance
Repatriation of mortal remains to Nigeria .

2. Diaspora Home Protection
Fire & Special Perils , Burglary & Housebreaking , Personal Accident & Liability .

3. Diaspora Auto Insurance
Comprehensive , Restricted Cover , Third party & Third Party Plus .

4. Diaspora Holiday Injury Insurance
Accidental Bodily Injuries , Tropical Illness .

Explaining the thinking behind the product, Dr. Imo O. Imo, Chief Strategy & Product Officer, Linkage Assurance Plc, said DiasporaCare+ was developed from a deliberate effort to understand the protection gaps confronting Nigerians living abroad.

“The thinking behind DiasporaCare+ was to move beyond simply selling an insurance policy to the diaspora. We asked a more fundamental question: how can insurance help Nigerians abroad protect the people, assets and commitments that continue to connect them to home? DiasporaCare+ is our response a practical protection ecosystem built around those real-life needs.”

He added that the product reflects Linkage Assurance’s strategy of identifying emerging customer segments and developing relevant solutions around their specific risks and expectations.

Deepening Insurance Beyond Borders

The unveiling of DiasporaCare+ reinforces Linkage Assurance Plc’s commitment to innovation, customer-centricity and inclusive insurance, while opening new opportunities to deepen engagement with the Nigerian diaspora community.

The company will continue to build strategic partnerships and distribution channels that make DiasporaCare+ easily accessible to Nigerians across key diaspora markets.

DiasporaCare+ :  Protecting What Matters, Wherever You Are.

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Six in 10 Nigerian domestic flights delayed in August — Report

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Nearly six in every 10 domestic flights operated by Nigerian airlines in August were delayed, according to a new report released by the Nigeria Civil Aviation Authority (NCAA), highlighting the difficulties faced by air travellers across the country.

The NCAA recorded 7,961 domestic flights during the month, of which 4,765 were delayed. Put simply, about 60 per cent of the flights did not leave at their scheduled times.

The regulator also recorded 36 cancelled flights during the month.

The figures were released days after the NCAA warned airlines over recurring flight delays, crew shortages and other operational problems, urging carriers to ensure their schedules match the aircraft and crew available to them.

Although the overall number of delays was high, most involved relatively short waiting periods.

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The NCAA said 2,801 flights were delayed between 16 minutes and one hour. Another 1,322 flights were delayed by between one and two hours.

However, the disruption became more serious for hundreds of flights. A total of 407 flights were delayed by between two and three hours, while 235 flights were delayed for three hours or more.

In other words, more than 600 flights kept passengers waiting for at least two hours during the month.

The figures also show that the problem was spread across several airlines, although some carriers recorded significantly more delays than others.

Air Peace records highest number of delays

Air Peace recorded the highest number of delayed flights, with 1,330 delays from 1,864 flights operated in August; roughly seven out of every 10 Air Peace flights were delayed during the month.

Of its delayed flights, 666 were delayed by between 16 minutes and one hour, 400 by between one and two hours, 156 by between two and three hours, and 108 by three hours or more.

The airline also recorded seven cancellations.

United Nigeria Airlines recorded the second-highest number of delays, with 943 delayed flights out of 1,231 operations.

Its figures show that 442 flights were delayed by between 16 minutes and one hour, 344 by between one and two hours, 116 by between two and three hours, and 41 by three hours or more.

United Nigeria also recorded the highest number of cancellations, with eight flights cancelled during the month.

Enugu Air followed with 582 delayed flights from 878 operations, including 343 delays of between 16 minutes and one hour and 46 delays lasting three hours or more. The airline recorded four cancellations.

Meanwhile, Value Jet recorded 435 delays across 767 flights, while Ibom Air recorded 254 delays across 560 flights.

Aero recorded 246 delays from 469 flights, while Rano Air had 216 delays from 503 operations.

Max Air recorded 204 delays from 336 flights, while Arik had 188 delays from 301 operations.

Other airlines recorded lower numbers of delayed flights. Overland had 139 delays from 239 flights, Green Africa recorded 114 from 226 flights, Binani had 22 from 57 flights, XE Jet recorded 40 from 127 flights, and UMZA Air had 52 delays from 403 operations.

The NCAA recorded no flight operation for NGEagle during the month.

NCAA demands better planning

The figures come against the backdrop of renewed pressure from the aviation regulator for airlines to improve their handling of flight disruptions.

During separate meetings with Air Peace and Max Air at the NCAA headquarters in Abuja on 10 September, the Director-General of Civil Aviation, Chris Najomo, questioned the effectiveness of the operational buffers being maintained by airlines in view of recurring delays and cancellations.

While acknowledging that factors such as weather, diversions and airport restrictions could affect flight operations, Mr Najomo stressed the need for airlines to plan and maintain effective contingency arrangements.

He also called for better communication with passengers whenever disruptions occur.

At the meeting, the Chief Operating Officer of Air Peace, Oluwatoyin Olajide, said the airline had 20 aircraft, with five on ground and 15 serviceable. The airline said it deliberately operated between 80 and 85 flights daily to maintain a buffer against disruptions.

She attributed some of its recent operational problems to technical issues, including bird-strike damage, shortages of aircraft components and a cracked windshield, as well as weather and airport restrictions.

ALSO READ: Airlines resume flights after aviation unions temporarily suspend industrial action

The General Manager, Ground Operations/Business Development of Max Air, Raymond Omadiagbe, said the airline had three Boeing 737 aircraft available for domestic operations and that all three were serviceable. However, he said only two were being operated because of crew limitations.

The airline added that it had reduced its schedule to match the resources available to it and had also stopped late-night Kano operations following passenger feedback.

Both airlines identified pilot retention as one of the challenges affecting their operations.

The NCAA said it was supporting training-bond arrangements and considering measures to facilitate foreign crew validation, while stressing the importance of proper licence verification and simulator checks.

Mr Najomo said the regulator would continue to support airlines but expected operators to maintain realistic schedules, comply with aviation regulations and improve passenger care.


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