Dangote refinery to launch IPO on September 14

LAGOS — Dangote Petroleum Refinery and Petrochemicals has signed its initial public offering (IPO) documents with advisers and other parties involved in the proposed offer, ahead of its planned opening on September 14, 2026. 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 on the Nigerian Exchange Limited (NGX) 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. Eseka added that the offer had been structured to accommodate the company's dollar-denominated operations, including the payment of dividends in dollars. Presenting details of the IPO, Olutade Olaegbe, Managing Director, Investment Banking, Vetiva Capital Management Limited, said the offer would open on September 14, subject to approval by the Securities and Exchange Commission (SEC). He said the offer would run for about one month and close on October 13. Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited, had earlier said the refinery's proposed IPO would have a minimum subscription requirement of 10 ordinary shares, priced at N5,250 per share.