₦airaland Forum

Dangote refinery IPO has so far raised x 4 of target amount
@Oasisblue

Alhaji is looking for more foot soldiers to fight his battles when the storm comes.
Bought my own afolabi units yesterday though I would have waited for further two weeks had I know the offer would be extended.
That is extra two weeks of tying my money down

If so then why the extension

SonofElElyonRet:
Dangote refinery IPO has so far raised x 4 of target amount
@Oasisblue

TargetT:
NIGERIA STOCK MARKET FOLLOW UP REPORT- 12 OCT 2026
**WHICH BANK IS LIKELY TO BE THE FIRST TO BREACH THE INSIDERS CREDIT RULE!!!**

Today, a lot of banking sticks are in the losers list.

Why did the banking index fall!!!

TOP 20 LOSERS – 12 OCT 2026
RANK TICKER %CH CLOSE VALUE(M)
1 SUNUASSUR -9.85 2.93 0.598496
2 CMFC -9.78 3.23 10.964610
3 OANDO -7.55 33.65 2.167127
4 LIVINGTRUST -6.25 3.00 0.522389
5 ZICHIS -6.16 16.00 2.167779
6 UPL -6.00 4.70 0.955812
7 FTNCOCOA -5.15 7.55 3.092030
8 FTGINSURE -4.76 1.60 1.536555
9 ACCESSCORP -4.24 28.25 33.283797
10 ZENITHBANK -4.23 129.00 27.980069
11 INTBREW -3.55 9.50 1.681666
12 FIDELITYBK -2.62 20.45 14.581218
13 FIRSTHOLDCO -2.54 140.00 13.229129
14 INTENEGINS -2.33 2.10 9.763107
15 AFRIPRUD -1.92 10.20 0.887459
16 NSLTECH -1.41 0.70 7.813237
17 STERLINGNG -1.30 76.00 10.108588
18 JAIZBANK -1.27 7.75 27.605363
19 LINKASSURE -1.21 1.63 0.896393
20 UPDC -1.19 4.15 2.067189

The banks are falling, but they may recover soon. However, we should know which one has a more terrible headwind of insider related credits ahead, this category should be tactically avoided.

The Undisputed Baba is the one with the first letter of the Babas.

The Insider wareva is Soo dirty and is a patch patch one even.from the time of their former MD who later headed a regulator.

No be my mouth una go hear say Oba Mama na winch.

I believe they are being cleaned up na Sha like old Oyinbo grandma.

Read somewhere that the offer is already 3x oversubscribed...

https://punchng.com/dangote-refinery-ipo-attracts-fourfold-subscriptions-offer-extended/

KarlTom:
Read somewhere that the offer is already 3x oversubscribed...

https://punchng.com/dangote-refinery-ipo-attracts-fourfold-subscriptions-offer-extended/

They have reportedly received 3–4 times their target, yet the offer remains open to the public—and the article is even hinting at potential listings on other African exchanges. What exactly is the plan here? Are they returning excess capital to investors, or simply collecting more money than they need? If they already have more than enough, why keep taking on more investors?

pluto09:
https://www.reuters.com/business/energy/nigerias-dangote-oil-refinery-ipo-be-extended-by-10-days-executive-adviser-say-2026-10-12/

"and Dangote said subscriptions were “more than three or four times” the amount sought"

Lays credence to this:

Agbalowomeri:
Dangote no need una money

He wants 10m peasants so more BVN is needed

SonofElElyonRet:
Might be wrong though but have a feeling dangote refinery Nigeria will hold shares in dangote refinery Kenya

Hmm.. Plausible
But more likely, DIL

nosa2:
Let them start planning to announce their rights issue and we shall see how it goes.

RI will most likely be offered at a discount.
Don't you think the RI-price will further depreciate the price even further?

SonofElElyonRet:
https://moneycentral.com.ng/markets/article/dangote-says-refinerys-ebitda-tops-5-5-billion-signals-record-third-quarter/I

Marketing is real
Hype isn't fading soon
Prospect is enticing.

https://youtube.com/live/F98qUix9BXI?feature=share

https://open.spotify.com/episode/6t21of4cUNnRl538SiIEaS?si=4NL8ZgzDQVWrlnZgYNxbfA

Here are a few stocks on my radar in today's trading session.

lionshare:
They have reportedly received 3–4 times their target, yet the offer remains open to the public—and the article is even hinting at potential listings on other African exchanges. What exactly is the plan here? Are they returning excess capital to investors, or simply collecting more money than they need? If they already have more than enough, why keep taking on more investors?

This shows the x3 to x4 is mostly tied to Institutional or HNI.
The shareholders spread is still very thin.

#Speculation
The OS despite being 120bn units and 4bn infree float, might definitely be very scarce upon listing and beyond.
Tilting towards driving up it's share prices.

Your link is taking me where I don't know o
https://moneycentral.com.ng/markets/article/dangote-says-refinerys-ebitda-tops-5-5-billion-signals-record-third-quarter/

SonofElElyonRet:
https://moneycentral.com.ng/markets/article/dangote-says-refinerys-ebitda-tops-5-5-billion-signals-record-third-quarter/I

Wetin I wan tell a whole Prof

nosa2:
Explain oh!!!!

SonofElElyonRet:

BARGAIN HUNTERS TAKE NOTE

Note don full

chimex38:
This shows the x3 to x4 is mostly tied to Institutional or HNI.
The shareholders spread is still very thin.

#Speculation
The OS despite being 120bn units and 4bn infree float, might definitely be very scarce upon listing and beyond.
Tilting towards driving up it's share prices.

Exactly.
If there is substantial refund due to oversubscription, the share price will rally immediately after listing

Redoil:
If so then why the extension

It is not about the amount of money, it is all about recruiting enough number of people to his side.
10 million investors that will hold like 10 units each.

Could something be fishy? I was thinking the thing go don be oversubscribed by now

chimex38:
Marketing is real
Hype isn't fading soon
Prospect is enticing.

Stories... Why did they extend the IPO?

mikeapollo:
Exactly.
If there is substantial refund due to oversubscription, the share price will rally immediately after listing

PETERiCHY:
Those HOPING to make QUICK MONEY from DANGOTE REFINERY will be highly DISAPPOINTED.

Like Dangote Sugar
Like Dangote Flour
Like Dangote Cement
Like Dangote Refinery


BARGAIN HUNTERS TAKE NOTE!

Soft Reminder 🎗️

For THOSE buying DANGOTE REFINERY IPO

Nigerians will LEARN a NEW THING..

BARGAIN HUNTERS TAKE NOTE!

OANDO Positioned as Nigeria’s Energy Sector Recovers

On the 8-hour chart, Oando is unfolding a five-wave impulse decline from the circled wave (b) high near ₦55, with waves (i) through (iii) already printed and price currently consolidating in a wave (iv) bounce around the ₦33–35 zone. The structure points to one final leg lower — wave (v) — targeting the projected wave 2 completion zone between ₦24.6 and ₦31.8, which also aligns with a key horizontal support…

https://ewnation.com/oando-positioned-as-nigeria-s-energy-sector-recovers/


https://www.youtube.com/watch?v=Fin5W1bBOJw

Not financial advice nor buy signal.

megawealth01:
Could something be fishy? I was thinking the thing go don be oversubscribed by now

some sites are already saying its already over x3 oversubscribed.

Probably needs the population-numbers not the finance-numbers

megawealth01:
Stories... Why did they extend the IPO?

To allow other African countries enough time take part. because they definitely have to set up new systems to be able to do so.
Remember, this is probably the first pan-Africa IPO, so some novel issues or challenges would crop up.

pluto09:
It is not about the amount of money, it is all about recruiting enough number of people to his side.
10 million investors that will hold like 10 units each.

The whole NGX sef no get 5million people

The IPO will not see 1m people

Ding!

DPRP

IPO Timeline:
• The offering runs from September 14 to October 27, 2026.
• Basis of Allotment draft and SEC approval expected around November 17, 2026
• Allotments to investors expected from November 18, 2026.
• Refund of excess funds to investors: 22 November 2026
• Trading on the Nigerian Securities Exchange (NGX) is targeted to begin in early December 2026 (about 15 business days after the allotment date).

pluto09:
It is not about the amount of money, it is all about recruiting enough number of people to his side.
10 million investors that will hold like 10 units each.

Alhaji is only being diplomatic. He does not want to be seen as excluding the poor masses, that is why he made those comments about 10million investors

Wahala
https://www.facebook.com/reel/1129261982859347/?app=fbl

Agbalowomeri:
The whole NGX sef no get 5million people
The IPO will not see 1m people

Exactly

I saw NDIF IPO at N113.54 n just curious whether it's the same one trading at N162 on ngx. I even get mixed reaction to it cos I w don't want the shares to be diluted, I enjoyed the somewhat coded fantastic quarterly dividend.

Agbalowomeri:
The whole NGX sef no get 5million people

The IPO will not see 1m people

Alhaji himself knows that.
He just needs as many as he can get.
I sense they want to publish the q3 results before the offer closes, that might be one of the reasons they extend it.
From all indication, they probably have a bumper figure in q3. It is just to start another round of marketing when the result is out.