Dangote Petroleum Refinery and Petrochemicals FZE received approval from Nigeria's Securities and Exchange Commission on 4 September 2026 to offer 4.1 billion shares at ₦525 ($0.40) each, with billionaire Aliko Dangote seeking to raise $1.6 billion in what would be Nigeria's biggest initial public offering by 7 September.
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[Daba Finance] Dangote Petroleum Refinery has received approval from Nigeria's Securities and Exchange Commission to sell 4.1 billion shares at ₦525 ($0.40) each, clearing the way for an initial public offering that could raise about ₦2.15 trillion, or $1.6 billion. The order book is expected to open on September 14, putting the company on course for one of Africa's largest public offerings.
Billionaire Aliko Dangote is seeking to raise $1.6 billion in what would be Nigeria’s biggest initial public offering. Dangote Petroleum Refinery and Petrochemicals FZE is offering 4.1 billion shares at 525 naira ($0.40) each, a company spokesman said Friday. The IPO will open on Sept. 14. Bloomberg's Anthony Osae-Brown reports. (Source: Bloomberg)