Dangote Petroleum Refinery IPO launches Sept 14, shares priced at ₦525
Dangote Petroleum Refinery’s initial public offer opened on September 14, 2026 and will close on October 13, 2026. The company is offering 4.1 billion ordinary shares at ₦525 each, aiming to raise about ₦2.15 trillion if fully subscribed. Investors can start with a minimum of 10 shares, costing ₦5,250.
The IPO is described as an "IPO for the people," seeking to broaden ownership across income groups and potentially reshape Nigeria’s capital market. FCMB Group is involved through three units: FCMB Capital Markets as joint issuing house, CSL Stockbrokers as stockbroker, and First City Monument Bank as receiving bank and distribution agent. Qualified investors buying 50,000 shares or more must submit a subscription form and fund their chosen account, emailing both to FCMB Capital Markets at [email protected]. Retail investors with an FCMB bank account can subscribe via the FCMB Mobile App or website, following prompts to the Dangote IPO portal and ensuring sufficient funds for direct debit. Those without an FCMB account can open a stockbroking account through the CSL portal, with instructions available online.
This transaction could strengthen the Nigerian Exchange’s bid to become Africa’s largest and most relevant capital market, possibly encouraging other large African companies to list in Nigeria. Will you subscribe to the Dangote Refinery IPO with the minimum ₦5,250, or wait to see how the offer performs before deciding?