Dangote Refinery Set For IPO Signing Ceremony In Lagos
The offer will sell 4.1 billion shares at N525 each and could raise about N2.15 trillion, with retail investors targeted for wider ownership.
- On Monday, September 7, 2026, Dangote Petroleum Refinery held its IPO signing ceremony in Lagos, with the public share sale scheduled to open for subscription on September 14, 2026.
- Located in the Lekki Free Zone, the facility currently processes 700,000 barrels per day; proceeds from the share sale will fund expansion to 1.4 million barrels per day by 2029.
- The company plans to sell 4.1 billion ordinary shares at 525 naira each to raise approximately 2.15 trillion naira , with a minimum subscription of 10 shares for retail investors.
- Dangote Group President Aliko Dangote described the sale as a "People's IPO" to broaden African ownership, while the listing could increase total market capitalisation on the Nigerian Exchange by over 30 percent.
- Beyond the Nigerian listing, the group is considering cross-border quotations in Kenya and Rwanda, while planning to establish a second 700,000-barrel-per-day facility in Lamu, Kenya.
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Listing of the century. Nigeria's Top Corporation launches IPO Dangote Petroleum Refinery, a subsidiary of Nigerian oil and gas giant Dangote, has signed documents for an initial public offering on the Nigerian stock exchange
Listing of the centuryNigeria's Top Corporation launches IPODangote Petroleum Refinery, a subsidiary of Nigerian oil and gas giant Dangote, has signed documents for an initial public offering on the Nigerian stock exchange. This was the largest IPO in...
Nigeria's Dangote to sign refinery IPO documents at ceremony later on ...
Aliko Dangote and his financial consultants signed the registration documents for the initial public offer of shares (IPO) of their refining business, as Africa's richest man takes a fundamental step towards launching the largest sale of shares on the continent so far. Dangote Petroleum Refinery and Petrochemicals FZE seeks to raise $1.6 billion with investors through an offer of 4.1 billion shares at the price of 525 nairas (US$ 0.40), accordin…
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