NewzBy Peter Egwuatu Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited, has said the Initial Public Offering, IPO, of Dangote Petroleum Refinery and Petrochemicals, FZE, will democratise wealth creation by giving Nigerians and investors globally an opportunity to own shares in one of Africa’s major industrial projects. Dangote stated this Monday at the “Facts Behind the Offer” presentation and opening gong ceremony for the refinery’s IPO in Lagos, where the Nigerian Exchange Limited, NGX, formally opened the N2.2 trillion offer. The IPO comprises 4.1 billion new ordinary shares offered at N525 per share, with a minimum subscription of 10 shares valued at N5,250.
The offer is scheduled to close on October 13, subject to the terms contained in the prospectus. Describing the offer as a historic moment for Nigeria’s capital market, the Dangote Group and Africa, Dangote said: “It would enable ordinary Nigerians and investors globally to own shares in one of Africa’s major industrial projects. “What initially belongs to a country, begins in a deeper sense, now belongs to the people.
Today is such a moment; today is a historic day.” He added: “The IPO is not simply about listing a company but about creating a new possibility for Nigeria and Africa by broadening ownership of a major industrial asset. “The decision to offer shares to the public was driven by the desire to allow more people to participate in and benefit from the prosperity created by the refinery. “An asset of this magnitude should not create value for only a very few people.
It should create value for millions of people, not only Nigerians, but all over the world.” Dangote noted that the IPO was not primarily about raising funds, as the group already had sufficient resources for its expansion. He said the group had planned to raise $2.5 billion through private placement and the IPO, comprising $1.5 billion from the IPO and $1 billion from private placement. According to him, the private placement attracted significant demand, with applications of about $2.5 billion for the $1 billion offer.
He said the strong demand made it necessary to return about $1.2 billion to investors after allocations were made. “We already met all our demands with the private placement. Coming back now to the IPO is actually about making sure that the public can get part of these benefits,” he s…
By Peter Egwuatu Vetiva Advisory Services Limited has emerged as Lead Adviser to the proposed Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP), as the landmark offer opened for subscription on September 14, 2026. The IPO, which received the approval of the Securities and Exchange Commission (SEC), will involve the offer of 4.1 billion ordinary shares at N525 per share, with the company expected to raise approximately N2.15 trillion if the offer is fully subscribed. The transaction is expected to rank among the most significant capital market transactions in Nigeria and could become one of Africa’s largest public share offerings.
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