Dangote Petroleum Refinery and Petrochemicals has concluded its landmark initial public offering (IPO), attracting investor applications from 120 countries across six inhabited continents, according to a report published on Wednesday.
The offering also recorded applications from all 54 African countries, marking an extensive geographical spread for a Nigerian industrial investment.
The IPO opened on 14 September 2026, offering 4.1 billion ordinary shares at ₦525 per share. The offer represented a proposed capital raise of approximately ₦2.15 trillion.
Initially scheduled to close on 13 October, the offer was extended to 27 October following approval from the Securities and Exchange Commission, allowing additional time for investors in Nigeria and international markets to participate.
The refinery’s offering has attracted attention because of its scale and the prospect of widening ownership of a major industrial asset among Nigerian, African and international investors.
However, applications from 120 countries do not by themselves establish the final number of successful investors or the eventual distribution of shares. Those details depend on the allocation process and the final offer results.
The completion of the offer represents a significant development for the company and Nigeria’s capital market. The next details investors will watch include final allotments, the distribution of shares and subsequent market developments.
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