Dangote Petroleum Refinery and Petrochemicals has disclosed that it is involved in 14 pending court cases with claims valued at about N295bn, as the company prepares for its planned public offering.

The disclosure was contained in the company’s offer documents for its proposed sale of 4.1 billion ordinary shares at N525 each, which could raise about N2.15tn.

Of the 14 cases, nine were classified as material litigation because the claims meet the company’s N100m threshold for material cases.

The claims amount to N4.08bn and $216.12m, excluding interest and other claims whose financial value has not been determined. Using an exchange rate of N1,350 to the dollar, the dollar-denominated claims are worth about N291.76bn, bringing the total disclosed claims to roughly N295.8bn.

The legal disputes involve issues including unpaid debts, outstanding contractual payments, regulatory matters and alleged breaches of contract arising from the refinery’s normal business activities.

The company’s legal advisers, Olaniwun Ajayi LP and AELEX, said the cases are at different stages and their outcomes cannot be predicted with certainty.

However, they stated that an unfavourable outcome in the cases is not expected to have a significant impact on the company’s financial position or its ability to meet its obligations under the proposed share offering.

The company also said it was not aware of any other legal claims that could materially affect the proposed transaction.

The planned share sale is expected to provide Dangote Refinery with additional capital to support its expansion and growth plans.