Kenya Global Depositary Receipts for Dangote Petroleum Refinery and Petrochemicals now require a minimum investment of Sh535, down from Sh107,000. Renaissance Capital, the issuer, reduced the minimum subscription from 2,000 receipts to 10 receipts at Sh53.50 each. The Capital Markets Authority approved the revision following investor feedback.
The lower barrier allows Kenyan investors to buy into the Nigerian refinery without the larger upfront commitment previously required through the local investment route. The change brings the Kenyan offer's minimum subscription in line with the entry threshold available under the Nigerian IPO.