Dangote Refinery IPO Launch: Key Details and Timeline

Dangote Petroleum Refinery and Petrochemicals FZE is set to launch its initial public offering (IPO) from September 14 to October 13, 2026, offering 4.1 billion ordinary shares at ₦525 each. The minimum subscription is 10 shares, costing ₦5,250, with a potential total raise of about ₦2.15 trillion (approximately $1.6 billion).

Investors must apply through approved channels, including banks and fintechs, as listed in the company's prospectus released around the September 7, 2026 signing ceremony in Lagos. A confirmation received upon application submission does not guarantee share allotment, as shares will be distributed based on demand and SEC regulations.

The issuer may increase the offer size by up to 30% if demand is strong. Following the offer and allotment processes, shares are expected to be listed on the Nigerian Exchange Main Board, with trading anticipated to begin between early and late November 2026.

The market price post-listing may differ from the IPO price due to various factors.