Chairman of Dangote Industries Limited, Aliko Dangote, on Monday sounded the gong at the Nigerian Exchange to formally launch the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals.
Held on the trading floor of the NGX in Lagos, the ceremony marked the first time a refinery has been offered on the Nigerian stock market in the Exchange’s 66-year history.
The IPO, which opened on Monday, September 14, 2026, offers 4.1 billion new ordinary shares at N525 per share, with a minimum subscription of 10 shares valued at N5,250.
Expected to close on October 13, 2026, the offer is subject to the terms contained in the prospectus.
Speaking at the ceremony, Dangote said the IPO was part of efforts to broaden participation in the ownership of his companies.
“We will lease every company that we operate,” he said.
The offer gives retail, institutional and eligible African investors an opportunity to acquire a stake in Dangote Refinery, which is Africa’s largest refinery.