Nigeria, Oct. 2 -- Aliko Dangote has hinted that more shares would be available for subscription in the ongoing Dangote Refinery IPO, if the demand continues to persist.

The billionaire business mogul described the overwhelming subscription as "enormous", saying the exercise has shown how deep Nigeria's capital market is.

The IPO, which started on September 14 and is due to close on October 13, comprises 4.1 billion shares being sold at N525 per share, and is expected to raise about N2.15 trillion.

The News Chronicle reports that the offer has been fuelled by frenzied activity in banks, fintechs and investment platforms, with early transactions indicating robust demand from retail investors.

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