Dangote Refinery Extends Historic IPO Deadline to October 27, 2026

LAGOS, Nigeria — The Dangote Petroleum Refinery and Petrochemicals FZE has officially extended its record-breaking Initial Public Offering (IPO) by two weeks, shifting the closing date from October 13 to October 27, 2026.

The extension, approved by Nigeria’s Securities and Exchange Commission (SEC), aims to bypass cross-border investment barriers and give retail and institutional investors across the African continent more time to participate in the landmark share sale.

The historic IPO, which initially opened on September 14, 2026, seeks to raise between $1.6 billion and $2.1 billion by offering 4.1 billion ordinary shares at ₦525.00 per share.

While the capital will fund infrastructure, executives emphasize that the extension is driven by a desire for democratic ownership rather than a shortage of funds.

Aliko Dangote, President of the Dangote Group, at a media briefing, assured that the IPO is doing well. “We will extend the closing date because we want more of our African brothers and sisters to participate,” he said.

To accommodate cross-border interest, the refinery has actively opened markets beyond Nigeria. About 20% of the IPO (approximately $300.4 million) has been earmarked for East African investors, following regulatory approvals in Kenya and Uganda.

The shares are also being structured for listing on regional hubs like the Nairobi Securities Exchange to ease foreign retail purchasing, while regulators in Botswana have also opened up local pipelines to allow domestic participation.

The extra two weeks are expected to accommodate prospective international buyers to navigate rigid identity verification, account setup, and regulatory hurdles.