Dangote Refinery IPO Discussion

Happened in Kenya some time ago when Safaricom shares were oversubscribed and people didn't the number they actually applied for and they had to be refunded. Sad thing is that 10 years later some people were still not refunded

Ohh.
That's interesting.

Since it's quite affordable, it's worth the try.
But I'm not comfortable personally buying it now, I'm expecting similar case with what happened in SpaceX shares to happen.

Download cowry wise app or bamboo app and search for it, you'll see it.

Yes, that's why I just applied for 20 shares

Alright. I'll still be following it up. The dateline is still far a bit.

I am interested

Today I got an SMS Message from Meristem Stockbrokers containing my CHN number and CSCS number.

Please what's the number used for?
Is it like your registration number, or it's the number you'll use in claiming your profits when you want to withdraw from it in the future?

Clearing House Number (CHN) is like your BVN number but for the stock market so you can only have one.

Central Securities Clearing System (CSCS) number is like your stock market account number, so you can have many depending on the number of stock brokers you have registered with

But why is VDM saying there's something fishy about the Dangote refinery IPO?

Those who bought Dangote company shares in the past are not doing badly.

Dangote Cement never had an IPO. It joined the Nigerian Stock Exchange on 26 October 2010 at ₦135 per share, after merging with Benue Cement, which was already listed. About 15.5 billion shares were listed that day. They started trading less than half an hour before the market closed and ended the day flat at ₦135.

Compared with Thursday’s close of ₦1,066.70, the price has risen roughly 7.9 times since listing. That figure leaves out the dividends the company has paid over the years.

Kenya doesn't have oil, why is Dangote building a refinery here?