Nigeria’s Dangote oil refinery this Monday signed \u200coffering documents with advisers and other parties involved in its initial public offering (IPO), a key milestone on its path to Africa’s biggest-ever share sale.<\/p>\n
<\/p>\n
The offering will run from September 14 to October 13, according to a presentation shown at a ceremony in Lagos, \u2060the country’s commercial capital.<\/p>\n
<\/p>\n
The company plans to sell 4.1 billion ordinary shares at 525 Naira ($0.40) each, potentially raising about 2.15 trillion Naira ($1.63 billion) if fully subscribed.<\/p>\n
<\/p>\n
In the event of over-subscription, the Dangote refinery and petrochemicals plant may issue up to 30% more shares than the base offer size, subject to regulatory approval, the presentation showed.<\/p>\n
<\/p>\n
The listing will test investor appetite for one of Africa’s most ambitious industrial projects.<\/p>\n
<\/p>\n
The \u200c700 000-barrel-per-day \u2060refinery, built at a cost of about $20 billion on the outskirts of Lagos, has reshaped Nigeria’s fuel market and benefited from supply disruptions linked to the Iran war, exporting jet fuel across Africa and into Europe.<\/p>\n
<\/p>\n
The plant is \u2060part of the sprawling business empire of Aliko Dangote, Africa’s richest man, who built his fortune in cement and also owns sugar and other businesses.<\/p>\n
<\/p>\n
The IPO aims \u2060to raise funds for a planned doubling of the refinery’s capacity to 1.4 million barrels per day. The company has already \u2060secured a $400 million underwriting commitment.<\/p>\n
<\/p>\n
Dangote told the signing ceremony he hoped the refinery would become the world’s largest single-train refinery by 2028.<\/p>\n
<\/p>\n
–Reuters–<\/p>\n","protected":false},"featured_media":44876,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-44875","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Dangote Refinery signs IPO offering documents for Africa's largest share sale","published_date":"2026-09-07 18:12:15","news_description":"Dangote Refinery signs IPO offering documents for Africa's largest share sale","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/44875","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\/44875\/revisions"}],"predecessor-version":[{"id":44877,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/44875\/revisions\/44877"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/44876"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=44875"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=44875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}