Dangote Refinery secures $1 billion underwriting programme ahead of IPO
Dangote Petroleum Refinery and Petrochemicals has secured a $1 billion underwriting programme from investors ahead of its upcoming Initial Public Offering (IPO). The post Dangote Refinery secures $1 billion underwriting programme ahead of IPO appeared first on Nairametrics .
Dangote Petroleum Refinery and Petrochemicals has secured a significant $1 billion underwriting programme ahead of its upcoming Initial Public Offering (IPO). The arrangement, orchestrated by Marob Strategies and Consulting DIFC Ltd and Lilium Capital Group, represents a completed and funded $600 million private placement, complemented by an additional $400 million underwriting commitment.
This announcement was made jointly by Marob Strategies and Lilium Capital Group, who serve as the co-financial advisers, on Tuesday, August 18, 2026. The joint press statement disclosed that Pan-African Refinery Investment SPV, a subsidiary of Lilium Capital Group, assumes the role of underwriter for the programme, utilizing the collective advisory and capital markets expertise of both Marob Strategies and Lilium Capital.
The financial advisers revealed that the $400 million IPO underwriting commitment will be executed upon the IPO's launch, contingent upon market conditions, corporate approvals, the finalization of necessary documentation, and adherence to relevant securities regulations.
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