Renaissance Capital raises Dangote Refinery valuation to N700.41
An investment bank has valued the refinery shares significantly above their initial public offering price, signalling market confidence in the project.
QuidMetrics Newsroom ·
Renaissance Capital Africa has increased its valuation of Dangote Petroleum Refinery to N700.41 per share, representing a 33.4% premium above the initial public offering price of N525, according to the investment bank's assessment.
The higher valuation reflects what the bank sees as growing investor confidence in the refinery project.
