Nigeria\u2019s Dangote Petroleum Refinery is seeking to raise about $1 billion through a private placement, valuing the company at approximately $39.1 \u200cbillion, according to sources and a placement document.<\/p>\n
<\/p>\n
The refinery is offering 3 billion ordinary shares at $0.35 per share, with investor demand already exceeding $2 billion, sources said.<\/p>\n
<\/p>\n
Investors must subscribe to a \u2060minimum of 1 million shares ($350 000), with additional purchases in multiples of 500 000 shares ($175 000). Shares will be subject to a 365-day lock-up period.<\/p>\n
<\/p>\n
Proceeds will be used for expansion and general corporate purposes as the refinery ramps up operations and strengthens its market position, the document showed.<\/p>\n
<\/p>\n
The 650 000 barrels-per-day refinery, \u200cwhich \u2060began production in 2024, has expanded output across diesel, aviation fuel, naphtha and petrol, significantly reducing Nigeria\u2019s reliance on imported refined products.<\/p>\n
<\/p>\n
Dangote officials did not respond \u2060to a request for comment on the placement.<\/p>\n
<\/p>\n
Market participants expect further investments in logistics, storage and distribution infrastructure, \u2060alongside possible expansion into petrochemicals, according to the placement document.<\/p>\n
<\/p>\n
The fundraising could pave the way for \u2060a future public listing, which billionaire owner Aliko Dangote has previously signaled could happen later this year.<\/p>\n
<\/p>\n
<\/p>\n
–Reuters–<\/p>\n","protected":false},"featured_media":36850,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-36849","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Nigeria\u2019s Dangote Petroleum Refinery is seeking to raise about $1 billion through a private placement","published_date":"2026-06-11 18:58:28","news_description":"Nigeria\u2019s Dangote Petroleum Refinery is seeking to raise about $1 billion through a private placement","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/36849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/36849\/revisions"}],"predecessor-version":[{"id":36851,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/36849\/revisions\/36851"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/36850"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=36849"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=36849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}