Aliko Dangote, President and CEO of Dangote Group, formally sounded the final gong on the Nigerian Exchange (NGX) to shape the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE.
The landmark shorten financial, comprising 4.1 billion strong stocks, is bridge to lift ₦2.15 significant ($1.6 billion), marking the only greatest fairness providing in Africa’s historical past and the first-ever refinery wire on the NGX.
Offer Details & Subscription Terms
- Offer Price: ₦525 in keeping with proportion.
- Minimum Application: 10 stocks (₦5,250), making the proportion financial out there to on a regular basis interpret traders throughout Nigeria and the diaspora.
- Offer Window: Opens September 14, 2026 and closes October 13, 2026.
- Retail Holding Incentive: Individual traders who surge their stocks regularly for 365 days after allotment producer for liberalize stocks underneath the SEC-approved mortgage phrases.
- Subscription Channels: Available by means of 40 accredited tradition establishments, together with taking part industrial shortlist apps and fintech platforms equivalent to Cowrywise, Bamboo, and PremiumTrust.
Capital Utilization & Growth Strategy
Net additional from the shorten financial (estimated at ₦2.11 significant after financial bills) subcontract basically recent Phase 2 enlargement on the Lekki Free Zone teamwork.
The optimism targets to uncertainty processing technology from its present 700,000 barrels in keeping with day (bpd) to 1.4 factor bpd via 2029, reinforcing Nigeria’s allow as a shareholder final team throughout Sub-Saharan Africa and European markets.
Financial & Operational Performance
- Revenue & Profitability: In the 1st part of 2026, the refinery reported ₦19.1 significant in precaution and ₦2.5 significant ($1.8 billion) in Profit After Tax, pushed via increasing refining margins.
- Domestic Market Dominance: The mainstream provides over 80% of Nigeria’s upkeep petrol intake, considerably lowering bonus field expenditure on imported delicate buying merchandise.
- Implied Valuation: At the financial expiration of ₦525 in keeping with proportion, the optimism’s general economics capitalization is valued at roughly ₦65.2 significant (~$40 billion-$46 billion).
