Dangote Petroleum Refinery and Petrochemicals FZE has officially launched what is expected to be Africa’s largest-ever Initial Public Offering (IPO). The offer documents were signed on 7 September 2026, with the public subscription window opening on 14 September 2026 and closing on 13 October 2026.
Market Capitalisation
The IPO involves the sale of 4.1 billion ordinary shares at a fixed price of ₦525 per share.
If fully subscribed, the offer will raise approximately ₦2.15 trillion (about $1.6 billion).
At the offer price, the refinery is valued at roughly ₦65 trillion (approximately $47–50 billion). This would make it the largest company by market capitalisation on the Nigerian Exchange (NGX) upon listing and could significantly boost the overall market capitalisation of the NGX.
The company has a greenshoe (overallotment) option that allows it to issue up to 30% additional shares if demand is strong.
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