SEC Orders Immediate Halt To Dangote Refinery IPO Marketing

…Says offer not yet filed


The Securities and Exchange Commission (SEC) has banned the marketing and promotion of a purported initial public offering (IPO) by Dangote Petroleum Refinery & Petrochemicals FZE, warning that no application for such an offer has been filed with or approved by the regulator.

In a public notice, the Commission said it had become aware of advertisements, flyers, digital banners and targeted electronic mails circulating on social media platforms and investment channels concerning a supposed security offering by the refinery.
The SEC expressed concern over the involvement of some Registered Capital Market Operators (CMOs) in what it described as an ‘unwh...