Dangote Refinery IPO Was Launched Today

The Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE officially opened for subscription today, September 14, 2026. Aliko Dangote officially launched the offer during an opening ceremony on the trading floor of the Nigerian Exchange (NGX) in Lagos.

Key IPO Highlights
Offer Size: Up to 4.1 billion ordinary shares on offer to the public.
Offer Price: ₦525 per share.
Minimum Investment: 10 shares (minimum entry cost of ₦5,250), purchasable in multiples of 10 shares thereafter.
Target Fundraise: Approximately ₦2.15 trillion (~$1.5 billion), marking one of the largest equity offerings in African history.
Subscription Window: Opens September 14, 2026, and closes on October 13, 2026.

Strategic Details & Purpose
Accessibility: The public offer is structured to allow broad retail participation. Investors can apply electronically through digital investment platforms (such as NGX Invest and Cowrywise) as well as commercial banking apps and authorized stockbrokers.

Use of Proceeds: Funds raised will primarily support the refinery's expansion plans, including pushing total refining capacity toward its ultimate target of 1.4 million barrels per day.

Expected Timeline: Following the closing of the subscription window on October 13, share allotments and final SEC approvals are expected in November, with formal trading of the listed shares anticipated on the NGX by early December 2026.