Dangote Refinery IPO: Shares priced at Ksh51 as Ksh208B offer opens September 14
Dangote Petroleum Refinery and Petrochemicals has priced its initial public offering (IPO) at ₦525 per share, equivalent to about Ksh51.40 at the current exchange rate, as the Nigerian company prepares to open its share sale on September 14. The refinery will offer 4.1 billion ordinary shares in the IPO, which could raise ₦2.1525 trillion, or […]
Dangote Petroleum Refinery and Petrochemicals has set its initial public offering (IPO) price at ₦525 per share, or approximately Ksh51.40, as the company prepares to launch its share sale on September 14. The IPO will consist of 4.1 billion ordinary shares, potentially raising ₦2.1525 trillion, or about Ksh210.7 billion, if fully subscribed. These shares will trade on the Nigerian Exchange (NGX) following the offer period, which concludes on October 13, 2026.
Retail investors must purchase shares through designated electronic channels, while qualified investors may apply electronically or via an Investor Application Form, with a minimum purchase of 50,000 shares. All payments are required in full at the time of submission, and the proceeds will be used to finance the refinery's expansion program, projected to cost about US$14.3 billion, or approximately Ksh1.85 trillion, over a five-year period ending in 2029.
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.
