Tekedia Capital: Analysts value Dangote Refinery at NGN 77.7 trillion-NGN 82.62 trillion, above IPO indicative cap

Reuters2026/09/09 20:47

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Tekedia Capital analysis flagged valuations of Dangote Refinery at NGN 77.7 trillion to NGN 82.62 trillion, above an indicative NGN 65.22 trillion IPO value.
Offer terms: 4,100,000,000 new shares at NGN 525 each; implied pre-listing market cap NGN 63.07 trillion; post-offer NGN 65.22 trillion.
Valuation upside rests on ramp-up assumptions; analysts projected 2026 revenue near $28.2 billion to $29.6 billion, net earnings $3.8 billion to $4.1 billion.
Prospectus showed 1H 2026 revenue $13.91 billion, profit after tax $1.82 billion; 2025 recorded a full-year loss of $475.8 million.
Execution risk centers on refining margins, utilization, funding a $14.27 billion expansion from 700,000 bpd toward 1,400,000 bpd capacity.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Tekedia Capital LLC published the original content used to generate this news brief on September 09, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Tekedia Capital: Analysts value Dangote Refinery at NGN 77.7 trillion-NGN 82.62 trillion, above IPO indicative cap

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