Dangote Refinery IPO Allocation & Capital Structure Planner

Offering Parameters

Enterprise Valuation $25.0 B

$10B (Conservative) $40B (Max Capacity)

IPO Free Float Target 15.0%

5% (Restricted Float) 30% (Wide Float)

Retail / Citizen Tranche Share 40.0%

10% (Institutional Heavy) 70% (True People's IPO)

Projected Annual Dividend Yield 6.5%

2.0% (Defensive) 15.0% (High Distributing)

Exchange Rate (NGN / USD) 1,550 ₦

1,200 ₦/$ 2,200 ₦/$

Structure Rationale: Aliko Dangote's announced plan to distribute ownership of the 650,000 bpd refinery directly to Nigerian citizens via domestic retail subscriptions alongside global institutional tranches.

Capital Allocation & Distribution Projections Live Recalculating

Total IPO Capital Raised

$3.75B

₦5.813T Local Value

Citizen Retail Tranche

$1.50B

₦2.325T Allotted

Institutional Tranche

$2.25B

₦3.488T Allotted

Est. Annual Retail Dividends

$97.5M

₦151.13B / Year

3.75 1.50 2.25 2.325 97.5

Retail Citizens Share

40.0% ($1.50B)

Institutional Float

60.0% ($2.25B)

Promoter / Retained Retain

85.0% ($21.25B)

Total Refinery Dividend Pool

$243.75M / yr

Offering Tranche	Share of IPO	USD Amount	NGN Equivalent	Annual Yield (Div)
Retail Citizen Pool	40.0%	$1.50B	₦2,325.0B	$97.50M
Institutional Investors	60.0%	$2.25B	₦3,487.5B	$146.25M
Combined IPO Total	100.0%	$3.75B	₦5,812.5B	$243.75M