LAGOS, Nigeria — President of Dangote Industries Limited, Aliko Dangote, launched the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals on the trading floor of the Nigerian Exchange in Lagos on Monday, September 14, 2026.
Okay News reports that Aliko Dangote sounded the gong at the Nigerian Exchange to formally commence the offer, which seeks to raise N2.15tn ($1.62bn) through the issuance of 4.1 billion new ordinary shares.
The public offering is priced at N525 ($0.40) per share, requiring a minimum subscription of 10 shares valued at N5,250 ($3.96).
The ceremony marked the first time a refinery has been offered on the Nigerian Exchange in its 66-year history.
Speaking at the launch event, Dangote outlined the objective of the public offer to attendees.
“We will lease every company that we operate,” he said.
The equity sale provides retail, institutional, and eligible African investors the opportunity to purchase shares in the facility.
Dignitaries in attendance included Lagos State Governor Babajide Sanwo-Olu, alongside business associates and family members, including two of Dangote’s daughters.
The offer period is scheduled to close on October 13, 2026, subject to the terms contained in the prospectus.
