Dangote refinery to launch IPO on September 14

Dangote Petroleum Refinery and Petrochemicals has signed documents with advisers and other parties involved in its proposed initial public offering, ahead of a planned September 14, 2026, launch.

The offer would remain subject to approval from Nigeria's Securities and Exchange Commission. Olutade Olaegbe, managing director of investment banking at Vetiva Capital Management, said it would run for about a month and close on October 13.

Chuka Eseka, Vetiva's group managing director and chief executive, said the refinery was expected to list on the Nigerian Exchange in November 2026. He said the offer had been designed to meet disclosure requirements in Nigeria's capital markets while reflecting the strength of the issuer.

The structure would accommodate the refinery's dollar-denominated operations, including the payment of dividends in dollars. Dangote Industries President and Chief Executive Aliko Dangote previously said investors would need to subscribe for at least 10 ordinary shares, priced at 5,250 naira per share.

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Everything has been particularly tailored so that the issuer can come to the market, meet all the disclosure requirements of the Nigerian capital markets, and at the same time, have the opportunity to express the strength.