Dangote Refinery IPO: NGX loses massive N1.9tn in two days as investors sell stocks

The Nigerian banal marketplace mislaid N1.9 trillion successful 2 days arsenic investors sold their stocks successful mentation for Dangote Refinery’s IPO, which is valued astatine N2.15 trillion.

On Wednesday, investors recorded a 1.17 percent, oregon N20 billion, decline, with the marketplace closing astatine N1.88 trillion from N1.9 trillion, with lone 4 gainers recorded during the trading session.

After trading connected Wednesday, DAILY POST reports that Champion Breweries roseate 9.90 percent to N11.10, GreenWef gained 8.28 percent to N757.85, portion UPDC added 5.88 percent to N3.60.

Meanwhile, the bulk of stocks, including BUACEMENT and STANBICETF30, some of which fell 10.00 percent, led the losers’ array connected Wednesday.

Recall that connected Tuesday, investors experienced a bloodbath aft losing a whopping N1.88 trillion.

The combined losses connected Tuesday and Wednesday totalled N1.9 trillion.

The improvement comes arsenic the NGX prepares for the historical Dangote Refinery IPO, which is scheduled to unfastened connected September 16, 2026, astatine N525 per share.

Dangote Refinery IPO: NGX loses monolithic N1.9tn successful 2 days arsenic ...