Dangote Refinery Launches ₦2.157 Trillion IPO, Opens Ownership to Retail Investors From ₦5,250

Photo Credit: Arise News

Dangote Petroleum Refinery has formally executed agreements for its Initial Public Offering, setting the stage for what is expected to be the largest equity offer in Nigerian capital market history.

The signing ceremony marks the official start of the process for the ₦2.157 trillion IPO. The company is offering 4.1 billion ordinary shares to the public at ₦525 per share. Based on the offer price, the IPO seeks to raise approximately ₦2.157 trillion, or about $1.6 billion.

Photo Credit: Arise News

According to details released after the signing, the funds will be used for growth capital expenditure and to support continued operational expansion at the mega-refinery.

A key feature of the offer is a new digital subscription model designed to widen participation. For the first time in Nigeria, retail investors will be able to buy into the refinery with a low entry amount.

Photo Credit: Arise News

The minimum subscription has been set at 10 shares. This means an investor can start with ₦5,250. Subsequent subscriptions will be in multiples of 10 shares.

The IPO also places emphasis on digital distribution channels to make it easier for Nigerians across the country to participate and broaden corporate ownership.

The development comes after earlier reports that the refinery secured $1 billion in backing ahead of the planned offer, and following SEC approval of the ₦525 per share pricing.

Further details on the offer timetable and how to subscribe are expected to be announced in the coming days.