Dangote Refinery secures Ksh129B backing ahead of planned IPO
Nigeria’s Dangote Petroleum Refinery has secured a US$1 billion (Ksh129 billion) underwriting programme ahead of its planned initial public offering (IPO), marking a major step towards what could become Africa’s largest stock market listing. “The planned Initial Public Offering of the Dangote Petroleum Refinery & Petrochemicals has taken a significant step forward with the successful […]
Dangote Petroleum Refinery & Petrochemicals has secured a US$1 billion underwriting programme, bringing it closer to becoming Africa's largest stock market listing. The company announced that the programme includes a fully funded US$600 million private placement and a further US$400 million underwriting commitment. This development is significant for Kenya, as local institutional investors could participate in the offering, with up to US$500 million (Ksh64.5 billion) expected to be mobilised from Kenya's capital markets.
The IPO is expected to take place in Nigeria, with a primary listing scheduled for October 2026, subject to regulatory approvals and other preparations.
Written by urgent.news from People Daily Kenya's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
