CMA approves purchase of Dangote Refinery IPO shares
Originally published by Citizen Digital — Read the original article →
The Capital Markets Authority (CMA) has approved a Global Depository Receipt (GDR) for Kenyan investors to join the Dangote Petroleum Refinery & Petrochemicals (DPRP) initial Public Offering (IPO).
The GDR, basically shares of a foreign company that can be traded locally, was submitted by Renaissance Capital Limited Kenya and several other firms and has been licensed to assist local investors.
Others include CPF Capital, SBG Securities/Stanbic Bank, Francis Drummond, National Bank of Kenya/Access Bank, Sterling Capital, Kestrel Capital, and AXYS Investment Bank.
