Dangote Refinery Opens ₦2.15tn IPO, Nigeria’s Largest Ever Public Share Sale

Dangote Refinery Opens ₦2.15tn IPO, Nigeria’s Largest-Ever Public Share Sale The Dangote Petroleum Refinery and Petrochemicals FZE has officially opened its Initial Public Offering PO, launching what is being described as Nigeria’s largest-ever public share sale. The refinery is seeking to raise ₦2.15 trillion $1.6 billion through the offering, with investors able to subscribe for 4.1 billion ordinary shares priced at ₦525 per share After weeks of anticipation and preparatory activities, the Dangote Refinery IPO went live on Monday on the Nigerian Exchange NGX. The launch was marked by an opening gong ceremony and a Facts Behind the Offer presentation, formally commencing the public offer and giving investors further information about the landmark transaction. The offering represents a major development for Nigeria’s capital market and is expected to attract significant interest from both institutional and retail investor The refinery’s plan to raise ₦2.15 trillion makes the offer a major capital-raising exercise for Nigeria’s private sector. At ₦525 per share, the 4.1 billion shares on offer give investors an opportunity to acquire an equity stake in one of Africa’s largest refining projects. The IPO is also expected to deepen public participation in the ownership of the refinery while strengthening Nigeria’s capital market. Investors interested in participating in the offer are expected to follow the subscription process outlined by the transaction’s advisers. Potential investors should review the official offer documents and eligibility requirements before subscribing. Details on how to buy shares, including the subscription process and requirements, have been provided by Chapel Hill Denham, the financial adviser to the offer. The Dangote Refinery IPO comes as Nigeria continues efforts to deepen its capital market and increase retail participation in listed investments. The scale of the offer makes it a significant test of investor appetite, particularly among Nigerian retail investors seeking exposure to the country’s energy and industrial sectors. The success of the IPO could also set a new benchmark for future large scale public offerings in Nigeria.