Dangote Refinery Expects to list IPO Shares in November

• Signs documents with parties to the offer• offer opens September 14* subject to SEC approval

The shares of Dangote Petroleum Refinery and Petrochemicals’ initial public offering (IPO), which, subject to approval of the Securities and Exchange Commission (SEC), is slated to open on September 14, is projected to be listed on the NGX Exchange in November.

Ahead of its proposed opening on September 14. and in order to speedy the offer process, Dangote Petroleum Refinery and Petrochemicals has signed its initial public offering (IPO) documents with advisers and other parties involved in the proposed offer.

The documents were signed on Monday at a preliminary signing ceremony for the proposed IPO of the refinery. Speaking at the event, Chuka Eseka, group managing director and chief executive officer of Vetiva Capital Management Limited, said the refinery was expected to list its shares in November 2026.

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,” he said.

“For example, the dollar-denominated company dividends are going to be paid in dollars, and many other interfaces that the regulator worked with us.”

Presenting the details of the IPO, Olutade Olaegbe, managing director, investment banking, Vetiva Capital Management Limited, said the offer would open on September 14, subject to the approval of the Securities and Exchange Commission (SEC).

He said the offer would run for about a month and close on October 13.

Aliko Dangote, chief executive officer (CEO) of Dangote Group, had said the refinery’s proposed IPO has a minimum subscription requirement of 10 ordinary shares, culminating in N5,250 per unit.