How investors will buy and trade Dangote shares through NSE

Investors have until Tuesday to make their offer for Dangote refinery shares through either; arrangements with accredited brokers who are working with partners in Nigeria or purchase global depository receipts (GDRs), which will subsequently list on the Nairobi Securities Exchange (NSE).

Through engagements with the Capital Markets Authority (CMA) and Renaissance Capital-the lead sponsoring broker for the GDR programme on Dangote shares-the Business Daily details how brokers will buy and trade Dangote shares through the NSE.

A global depository receipt (GDR) is an instrument enabling foreign companies to raise capital by allowing investors to trade non-domestic shares on local exchanges. In the case of the Dangote IPO, investors in Kenya will acquire the receipts representing the underlying shares approved and listed in the Nigerian Stock Exchange (NGX).