Dangote Petroleum Refinery IPO opens for subscription

The Dangote Petroleum Refinery Initial Public Offering (IPO) is open for subscription, offering 4.1 billion ordinary shares at ₦525 per share. According to Daily Trust, if fully subscribed, the offer is expected to raise approximately ₦2.15 trillion. The offer period runs from September 14, 2026, to October 13, 2026.

Investors can apply for as few as 10 shares, representing an investment of ₦5,250, with subsequent applications in multiples of 10 shares. Daily Trust also reported that a digital investment platform, i-invest, provides a convenient way to participate in the offer from a mobile device.

Some analysts have expressed concerns about the pricing of the IPO. According to Nairametrics, GTI Research has put Dangote Petroleum Refinery and Petrochemicals’ probability-weighted fair value at approximately ₦493 per share, below the ₦525 offer price. This implies that the IPO is priced about 6.1% above GTI’s central estimate and 4.4% above its base case. GTI Research has labelled the offer as “FULLY VALUED”.

Brief written by urgent.news from Premium Times, 3News, Daily Trust, Nairametrics, Hindu BusinessLine — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.