President of Dangote Industries Limited, Aliko Dangote, on Monday formally launched the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals on the Nigerian Exchange (NGX).
Dangote marked the commencement of the offer by sounding the closing gong at the NGX trading floor in Lagos, making the refinery the first in the Exchange’s 66-year history to open a public subscription on the Nigerian stock market.
The IPO, which opened on Monday, September 14, 2026, consists of 4.1 billion new ordinary shares offered at N525 per share.
Investors can subscribe to a minimum of 10 shares, valued at N5,250, while the offer is expected to close on October 13, 2026, subject to the terms and conditions contained in the prospectus.
Speaking at the ceremony, Dangote said the public offering was part of efforts to broaden participation in the ownership of his businesses.
“We will lease every company that we operate,” he said.
The offer is open to both retail and institutional investors, as well as eligible investors across Africa, giving them an opportunity to acquire an ownership stake in the Dangote Refinery, described as Africa’s largest refinery.
Lagos State Governor, Babajide Sanwo-Olu, attended the ceremony alongside other dignitaries, members of the Dangote family and two of Dangote’s daughters.
Source: Nigerian Exchange
