Dangote Petroleum Refinery has opened its Initial Public Offering, IPO, offering investors an opportunity to acquire shares in the refinery. The public offer, which opened on September 14, consists of 4.1 billion new ordinary shares priced at ₦525 each and is expected to raise approximately ₦2.15 trillion. Investors can subscribe for a minimum of 10 […]
Dangote Petroleum Refinery has opened its Initial Public Offering, IPO, offering investors an opportunity to acquire shares in the refinery.
The public offer, which opened on September 14, consists of 4.1 billion new ordinary shares priced at ₦525 each and is expected to raise approximately ₦2.15 trillion.
Investors can subscribe for a minimum of 10 shares, valued at ₦5,250, while the offer is scheduled to remain open until October 13, 2026.
The IPO targets retail, institutional and eligible African investors, with proceeds expected to support the refinery’s long-term growth, operational expansion and strategic investments.
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, says the IPO is aimed at broadening ownership and allowing more Nigerians and other investors to participate in the value created by the refinery.
Group Managing Director and Chief Executive Officer of Nigerian Exchange Group, Temi Popoola, described the IPO as an important development for Nigeria’s capital market, particularly in expanding public participation in major Nigerian businesses.
Eligible investors can subscribe through approved channels, including NGX Invest, designated commercial banks, stockbrokers and authorised investment platforms.
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