Dangote Petroleum Refinery IPO Opens for Subscription

The Dangote Petroleum Refinery and Petrochemicals FZE Initial Public Offering (IPO) is now open. The offer is expected to run from Monday, 14 September to Tuesday,13 October 2026, giving eligible investors an opportunity to acquire shares in the company.

The offer comprises 4.1 billion ordinary shares at ₦525 per share with a minimum purchase of 10 units. The shares are expected to be listed on the Nigerian Exchange Limited following completion of the IPO.

Stanbic IBTC is acting as Joint Lead Issuing House, Joint Stockbroker and Receiving Bank to the offer.

Key offer terms

• Issuer: Dangote Petroleum Refinery & Petrochemicals FZE
• Offer size: 4,100,000,000 ordinary shares
• Offer price: ₦525 per share
• Minimum subscription: 10 shares and multiples of 10 thereafter
• Payment: Full payment on application
• Use of proceeds: Growth capital expenditure for the refinery expansion programme
• Offer period: 14 September to 13 October 2026

How to subscribe

• Existing Stanbic IBTC Bank customers: Subscribe through the Stanbic IBTC Mobile App, Internet Banking or the Stanbic IBTC e-Subscription Portal.
• Other individual investors: Subscribe through the Stanbic IBTC e-Subscription Portal.
• Corporate investors: Subscribe through the Stanbic IBTC e-Subscription Portal.
• Applications for 50,000 shares or more: Investors may use the Investor Application Form. For payment instructions for this, please contact your relevant Stanbic IBTC representative, Relationship Manager, Wealth Adviser or Stockbroker.

All applications must be accompanied by full payment. Investors should have the required identification and account information, including their NIN and BVN where applicable.

Additional offer information

The ordinary shares offered have been assessed as Shari’ah-compliant based on an independent Shari’ah assessment and the applicable screening criteria. Eligible retail investors may also receive up to two additional shares at no extra cost if they maintain the prescribed minimum shareholding for the applicable periods stated in the Prospectus, subject to the required approvals.

To participate, visit the Stanbic IBTC e-Subscription Portal.

Important information for investors

Before applying, read the FAQs, Prospectus and the Abridged Particulars of the Prospectus below. These documents contain the full offer terms, risk factors, application procedures and other material information.

Please read the offer documents carefully before making an investment decision. If you are unsure about any aspect of the offer, consult your stockbroker, banker, accountant, solicitor or another professional adviser. The Issuer and the Issuing Houses may reject applications received after the closing date or applications that do not meet the procedures and requirements in the Prospectus.

• Dangote refinery: Nigerians tap savings, loans to buy shares
• Refinery profit won’t fall with crude prices – Dangote
• FCMB backs Dangote refinery IPO, targets wider participation

For more information, visit:

• Stanbic IBTC
• Stanbic IBTC Stockbrokers
• Stanbic IBTC Capital

Terms and conditions apply. Please read the offer documents carefully before making any investment decision.