Dangote Refinery IPO attracts functions from 120 international locations, all 54 African nations

Dangote Petroleum Refinery and Petrochemicals has concluded its Initial Public Offering (IPO), receiving investor functions from 120 international locations, together with all 54 African international locations, in response to the corporate.

The supply, billed “The People’s IPO”, opened on September 14, 2026, with 4.1 billion unusual shares at N525 per share, a proposed elevate of about N2.15 trillion. It was to shut on October 13 however was prolonged to October 27 after approval by the Securities and Exchange Commission (SEC).

The firm mentioned the extension was meant to prioritise breadth of possession alongside its monetary aims.

The firm mentioned functions got here from all six inhabited continents. The supply was distributed by business banks, stockbroking companies, fintech platforms and different capital market establishments, which it mentioned opened new channels for retail participation throughout nationwide borders.

President and Chief Executive of Dangote Industries Limited, Aliko Dangote, described the end result as an affirmation of African confidence.

“To have investor applications from all 54 African countries is deeply significant to me. It tells us that our people do not simply want to consume what Africa produces; they want to invest in it, own it and share in its future,” he mentioned.

“We did not undertake this IPO simply because we needed to raise capital. We wanted to open the doors of ownership, give ordinary Africans an opportunity to participate in an enterprise of global significance and establish a new culture of shared prosperity,” he added.

Managing Director and Chief Executive Officer of the refinery, David Bird, mentioned the worldwide response mirrored confidence in its operations and development prospects.

“Investor applications spanning 120 countries demonstrate the extraordinary international interest in our business and the confidence that investors are placing in the future of this refinery,” he mentioned.

Group Chief Financial Officer of Dangote Industries Limited, Murat Erden, mentioned the transaction set a precedent for African capital markets.

“We have demonstrated that African capital markets can transcend national boundaries and connect millions of people to investment opportunities previously beyond their reach,” he mentioned.

Erden additionally cited the refinery’s current efficiency. “With $22.5 billion in revenue and $5.52 billion in EBITDA in the first nine months of 2026, Dangote Refinery combines world-class industrial scale, strong profitability and significant long-term growth potential,” he mentioned.

The firm mentioned the geographic unfold issues for a continent the place capital markets have been fragmented by nationwide boundaries, differing rules and restricted retail participation. It credited digital monetary infrastructure with widening entry.

The refinery, positioned in Lagos, is one among Africa’s largest non-public industrial investments. The firm mentioned it’s pursuing an enlargement programme below its Vision 2030 technique, alongside efforts to strengthen distribution and cut back dependence on imported refined petroleum merchandise.