Dangote Refinery Opens IPO to Investors With N5,250 Minimum

The Dangote Petroleum Refinery and Petrochemicals has set N5,250 as the minimum amount investors can commit to its much-anticipated initial public offering (IPO), as the company moves closer to its historic share sale.

The minimum subscription represents 10 ordinary shares, priced at N525 each, according to details announced by Aliko Dangote, President and Chief Executive Officer of the Dangote Group, at a signing ceremony in Lagos on Monday. (TheCable)

The public offer is scheduled to open on September 14 and run until October 13, 2026. The company plans to offer about 4.1 billion shares, with the transaction capable of raising roughly N2.15 trillion ($1.63 billion) if fully subscribed. (Reuters)

The IPO is expected to become one of the largest, if not the largest, public share offerings in Nigeria and Africa. The refinery, which currently has a processing capacity of about 650,000 barrels per day, is seeking to raise funds to support its expansion plans, including a proposed increase in capacity to 1.4 million barrels per day. (Reuters)

The refinery’s public offering comes after the Securities and Exchange Commission (SEC) approved the transaction, following earlier warnings from the regulator in June against unauthorised advertisements and advance subscriptions linked to a purported Dangote Refinery IPO. (Reuters)

With the official offer now moving ahead, prospective investors have been advised to rely on the SEC-approved offer documents and use authorised capital-market channels when subscribing.