Dangote Refinery Extends IPO Deadline to October 27

Dangote Petroleum Refinery and Petrochemicals FZE has extended the application period for its initial public offering by two weeks, moving the deadline from October 13 to October 27, 2026, after receiving approval from Nigeria’s Securities and Exchange Commission. The company said the extension is intended to give more investors, particularly across Africa, time to participate in the share sale. The offer opened on September 14 and comprises 4.1 billion ordinary shares priced at N525 each. Investors can apply for a minimum of 10 shares, costing N5,250. The shares are expected to be listed on the Nigerian Exchange Limited after the offering is completed. In remarks reported by the company, Dangote Group President Aliko Dangote said subscriptions had exceeded three or four times the amount the company originally intended to raise. He said the extension was not driven by a need for additional funds, but by a desire to allow more Africans to take part. The company did not provide a subscription total alongside the claim. The refinery said it is working to expand cross-border access, including by developing distribution channels and unsponsored depository receipt programmes.