SEC Extends Dangote Refinery IPO Deadline to October 27

The Securities and Exchange Commission (SEC) has approved an extension for the application period of Dangote Petroleum Refinery and Petrochemicals FZE’s Initial Public Offering (IPO), changing the closing date from October 13 to October 27, 2026. The IPO, which opened on September 14, 2026, comprises 4.1 billion ordinary shares priced at N525.00 per share.

The extension aims to facilitate ongoing market-access initiatives across Africa, including expanding distribution channels and implementing depositary receipt programmes for cross-border investor participation. Dangote Refinery reported strong interest from a diverse range of eligible investors since the IPO's launch.

David Bird, Managing Director and Chief Executive Officer of Dangote Petroleum Refinery and Petrochemicals FZE, welcomed the SEC’s decision, stating it would provide more opportunities for African investors to participate. The revised timetable includes the application list closing on October 27, 2026, with collation of returns scheduled for November 3, 2026, and subsequent allotment announcements and trading activities planned for mid-November.