The Dangote Petroleum Refinery and Petrochemicals FZE Initial Public Offering (IPO) has commenced, providing eligible investors with an opportunity to acquire shares in the company. The offer period, which started on Monday, 14 September 2026, will run until Tuesday, 13 October 2026. During this time, investors can purchase shares in the company. The IPO comprises 4.1 billion ordinary shares priced at ₦525 per share.
To participate in the IPO, investors must purchase a minimum of 10 units, with subsequent purchases accepted in multiples of 10. The shares are expected to be listed on the Nigerian Exchange Limited following the completion of the IPO. Stanbic IBTC is serving as the Joint Lead Issuing House, Joint Stockbroker, and Receiving Bank for the offer. This role will involve managing the IPO process and facilitating transactions.
The use of proceeds from the IPO is earmarked for growth capital expenditure for the refinery expansion programme. This strategic allocation of funds aims to enhance the company's operational capacity and infrastructure. Investors can subscribe to the IPO through various channels, including the Stanbic IBTC Mobile App, Internet Banking, or the Stanbic IBTC e-Subscription Portal, depending on their customer status.
Existing Stanbic IBTC Bank customers can conveniently subscribe through digital platforms, while other individual and corporate investors can use the Stanbic IBTC e-Subscription Portal. For applications of 50,000 shares or more, investors may use the Investor Application Form and are advised to contact their relevant Stanbic IBTC representative for payment instructions.
The ordinary shares offered in the IPO have been assessed as Shari’ah-compliant based on an independent Shari’ah assessment. Additionally, eligible retail investors may receive up to two additional shares at no extra cost if they maintain the prescribed minimum shareholding for the applicable periods stated in the Prospectus. This incentive aims to reward long-term investors.
Before applying, investors are advised to read the FAQs, Prospectus, and the Abridged Particulars of the Prospectus. These documents contain crucial information about the offer terms, risk factors, application procedures, and other material details. It is essential for investors to understand the terms and conditions before making an investment decision.
The Issuer and the Issuing Houses reserve the right to reject applications received after the closing date or those that do not meet the procedures and requirements outlined in the Prospectus. For further information, investors can visit the Stanbic IBTC or Stanbic IBTC Stockbrokers websites, or contact them directly via email or phone.
Key points
- The Dangote Petroleum Refinery IPO offers 4.1 billion shares at ₦525 per share.
- The minimum subscription is 10 shares, with multiples of 10 accepted thereafter.
- The IPO proceeds will fund the refinery expansion programme.
