Dangote Refinery Extends IPO Application Deadline To October 27

Dangote Petroleum Refinery and Petrochemicals FZE has announced a two-week extension of its Initial Public Offering (IPO), moving the application deadline from October 13 to October 27, 2026.

The extension, announced on Monday, October 12, follows approval from Nigeria’s Securities and Exchange Commission (SEC) and comes amid strong investor interest across Africa and other international markets.

The IPO, which opened on September 14, offers 4.1 billion ordinary shares at ₦525 per share, with a minimum subscription of 10 shares costing ₦5,250.

The offering aims to raise approximately ₦2.15 trillion, making it one of the largest public share offerings in African capital market history.

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According to the company, the extension will allow more prospective investors to complete account registration, identity verification and other regulatory requirements necessary to participate.

It will also support efforts to expand investment channels across African countries and introduce programmes that make cross-border share ownership easier.

Speaking on the development, the refinery’s Managing Director and Chief Executive Officer, David Bird, welcomed the regulatory approval, emphasising the company’s commitment to expanding investment opportunities across the continent.

The IPO represents a major milestone for billionaire businessman Aliko Dangote’s refinery, which has become a significant player in Nigeria’s petroleum industry.

The share sale is expected to widen public ownership of the refinery while supporting its long-term expansion ambitions.

Under the revised timetable, the company expects to obtain regulatory clearance for share allotment on November 17, with subsequent settlement and trading activities scheduled afterward.

Meanwhile, investors have been advised to use only SEC-approved subscription channels and carefully review the official prospectus before committing funds.

The extended deadline is expected to encourage broader participation and strengthen public interest in one of Africa’s most ambitious industrial projects.