Dangote Refinery Launches Historic IPO on September 14
Dangote Petroleum Refinery & Petrochemicals FZE announced the commencement of its Initial Public Offering (IPO) on September 14, 2026, marking a significant milestone in Nigeria’s economic development. The IPO, launched at the Nigerian Exchange (NGX) in Lagos, offers 4.1 billion new ordinary shares priced at N525 per share, with a minimum subscription of 10 shares valued at N5,250.
The offer is expected to remain open until October 13, 2026. This transaction aims to raise approximately N2.15 trillion, making it one of Africa's largest equity offerings.
The proceeds will support the refinery's long-term growth plans and operational expansion. Aliko Dangote, President and Chief Executive of Dangote Industries Limited, emphasized the IPO's role in democratizing ownership and creating opportunities for Nigerians and investors globally.
Temi Popoola, Group Managing Director and CEO of Nigerian Exchange Group, noted the IPO's significance for Nigeria's capital market, highlighting the importance of broadening ownership and access.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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