News

Update Emerges On Dangote Refinery Shares Sale

Published October 13, 2026 at 5:18 AM

Key Takeaways

Dangote Group plans to extend the Dangote Refinery IPO application deadline by two weeks, allowing investors in more African countries to join the offer.
Sources at the refinery told TheCable the offer will run until October 27, as many African exchanges are still creating participation platforms.
The IPO opened on September 14, offering 4.1 billion shares at ₦525 each, and could raise ₦2.15 trillion for expansion if fully subscribed.

Dangote Group is reportedly planning to extend the subscription deadline for its refinery’s initial public offering by two weeks to allow more investors across Africa to participate.

The proposed extension would move the closing date from October 13 to October 27, 2026, according to sources familiar with the development.

Sources at the refinery disclosed the plan to The Cable on Monday, exposing that several Africa stock exchanges were still developing platforms to enable investors in their respective countries to subscribe to the offer.

“The major reason is because most exchanges in Africa are just creating platforms for participation,” the source said.

The Dangote refinery officially opened its IPO on September 14, with its offer comprising 4.1 billion ordinary shares at N525 per share with a minimum purchase of 10 units. The shares are expected to be listed on the Nigerian Exchange Limited following completion of the IPO.

If fully subscribed, the offer is expected to raise N2.15 trillion for the expansion operations.

The chief executive officer (CEO) of Dangote Group, Aliko Dangote described the offer as the “People’s IPO”.

He said members of the public would have an opportunity to participate in the refinery’s ownership.

“We fully share all our prosperity with the people. That’s why we call this ‘People’s IPO’. We know the journey has actually just started. It’s not only about the refinery,” he said.