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Dangote Refinery Extends N2.15 Trillion IPO to October 27 on Strong African Demand
Photo: Nairametrics
Dangote Petroleum Refinery and Petrochemicals has extended the application period for its landmark initial public offering by two weeks, pushing the closing date from 13 October to 27 October 2026.
The Securities and Exchange Commission approved the extension. The offer comprises 4.1 billion ordinary shares at N525 each, targeting approximately N2.15 trillion. Aliko Dangote has said subscriptions already exceed the original target by three to four times, but the company wants more African investors to participate through expanded distribution channels and depositary receipt programmes.
The refinery, with a current capacity of 700,000 barrels per day, is also targeting 1.4 million barrels per day by 2029. The IPO is positioned as Africa’s largest equity offering to date and a step toward broader public ownership of the facility.
Sources: Dangote Refinery · Bloomberg
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