Dangote Refinery Extends $1.6 Biliion IPO To October 27 - Business

Dangote Refinery Extends $1.6 Biliion IPO To October 27 - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Dangote Refinery Extends $1.6 Biliion IPO To October 27 (5118 Views)

Dangote Refinery Extends $1.6 Biliion IPO To October 27 by NaijaphiliaBlog(op): 8:40pm On Oct 13

Dangote Refinery Extends $1.6 Biliion IPO To October 27

Nigeria-based Dangote Petroleum Refinery and Petrochemicals has extended the closing date of its Initial Public Offering (IPO) to Tuesday 27October 2026.

The extension has been approved by the Securities and Exchange Commission (SEC); It aims to accommodate burgeoning investor interest across the African continent and facilitate wider participation in the watershed share offer.

The extension also comes as Mr Aliko Dangote, President/CEO of Dangote Industries, revealed that subscriptions have already surpassed the company’s initial fundraising target by more than threefold.

He said this on Monday 12 October 2026 when a delegation of Kenyan lawmakers led by National Assembly Majority Leader Anthony Kimani Ichung’wah visited the Dangote Refinery in Lekki-Lagos.

Dangote stressed that the priority is not merely to raise capital but to enable more Africans become shareholders in one of the continent’s largest industrial enterprises.

Source

4 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by Emeskhalifa(m): 7:10am On Oct 14

Baba wan really leave una with iron condemn for hand grin

Those who invested in his previous IPOs know exactly what I am talking about

40 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by NaijaHelper1(m): 7:10am On Oct 14*

Lool. I guess the people that rushed to buy are about to learn a bitter lesson about investing. The way these shares will dump when the sale ban is lifted, the bag holding on this one will be bru'ul.
For the people who don't understand how this works, Dangote refinery was not built with Dangote's money. It was built with billions of dollars of other people's money. And those people have been absorbing the risks, fighting the internal battles you know nothing about and they have actually won. They now seek to enjoy the fruits of their labour by selling the billions of shares they got for change at the beginning of the project at the prices you're seeing online.

Upon lifting of the ban, they'll dump those shares on the market to lock in profits. The sheer number of shares they dump will crash the price. That's when you ought to buy. Not now. Of course the shares will climb back up assuming the oil industry continues booming due to war. But the climb back will be lengthy and difficult because the shares are already overpriced as it is.

22 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by MartinCorridon: 7:12am On Oct 14*

Them no see too many magas be that.

Dangote should curse APC for tanking the economy.

There was a lot of money flowing - corrupt and legit during PDP days. He was able to harvest more magas then grin

38 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by SmartPolician: 7:12am On Oct 14

Those who think they'll become rich from this IPO have been deceived. Dangote wants everyone to believe they can make money from it.

However, you can only make money from a business known to a few people who keep the information secret because the moment it becomes general knowledge, e don cast 😀

31 Likes 1 Share

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by datola: 7:12am On Oct 14

It has already been oversubscribed and you are still extending the closing date huh

45 Likes 1 Share

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by tuoyoojo(m): 7:12am On Oct 14

The dude needs more money

Let me know when the one in kenya has been listed

I want to invest in that one too

4 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by jubrilELsudan: 7:13am On Oct 14

VERY GOOD..... EVERYTHING MUST GO

BY 25TH OF OCTOBER HIM GO BEGIN SELLAM FOR 50 NAIRA PER SHARE JÁLÉ

5 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by LagbajaTheBEREAN: 7:15am On Oct 14

I wish the subscribers the best of luck but if the truth about Dangote selling this to his allies before going public is anything to go with I doubt if it's a sensible move to buy one, like I said earlier, best of luck to all of them...

7 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by socoharley: 7:15am On Oct 14

But come to think of it..this refinery is not even up to 3 years in operation so how did it scale all verification hurdles at the securities and exchange commission in this short period to become viable?

14 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by thrillionaire(m): 7:15am On Oct 14

Lol.. you claim the expectations were exceeded but you're extending the closing date eh?

Nigerians wey never seen money to chop.. na IPO dem wan invest in abi

22 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by Hemanwel(m): 7:16am On Oct 14

datola:
It has already been oversubscribed and you are still extending the closing date

It's pure lies! Why extend something that's been over-subscribed? Why call for more investors when your shares have been over-subscribed? Make it make sense to me

16 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by abbasajao(m): 7:16am On Oct 14

NaijaHelper1:
Lool. I guess the people that rushed to buy are about to learn a bitter lesson about investing. The way these shares will dump when the sale ban is lifted, the bag holding on this one will be bru'ul.

When it fall, it will rise.
Don't speak with authority for things you are not sure about.

4 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by Niok: 7:17am On Oct 14

Lol
Una go extend tire rubbish

1 Like

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by Gotocourt: 7:17am On Oct 14

Na by force angry

, we no go buy.

If you like, put body lipsrsealed

2 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by socoharley: 7:20am On Oct 14

LagbajaTheBEREAN:
I wish the subscribers the best of luck but if the truth about Dangote selling this to his allies before going public is anything to go with I doubt if it's a sensible move to buy one, like I said earlier, best of luck to all of them...

I was a staff of Oceanic registerers ,226 Awolowo road Ikoyi,by Falomo...we handled the Dangote flour IPO back then...And yes his cronnies buy first,get their share certificates printed,stamped and ready for the secondary market before it gets to the public.

7 Likes 1 Share

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by victorazyvictor(m): 7:20am On Oct 14

People buying this shares don't know anything. The world is drifting away from oil to Renewal Energy, and here we are building refinery.

5 Likes 1 Share

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by LagbajaTheBEREAN: 7:26am On Oct 14

socoharley:
I was a staff of Oceanic registerers ,226 Awolowo road Ikoyi,by Falomo...we handled the Dangote flour IPO back then...And yes his cronnies buy first,get their share certificates printed,stamped and ready for the secondary market before it gets to the public.

It's an open secret then. I don't know why I don't fine the so called IPO offer interesting one bit.

4 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by Segxydube: 7:28am On Oct 14

abbasajao:
When it fall, it will rise.
Don't speak with authority for things you are not sure about.

Keep joking... Dangote is scamming u guys

2 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by jaxxy(m): 7:33am On Oct 14

Emeskhalifa:
Baba wan really leave una with iron condemn for hand

Those who invested in his previous IPOs know exactly what I am talking about

Depends on how much valuable the company can get from its current state and evaluation.

What are the compainies longterm goals or prospects with national and global relevance or have they reached they peak performance and nothing more?

3 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by IgOga(m): 7:34am On Oct 14

Kowope enterprises grin

Hope this will not be another transcorp

2 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by malali: 7:34am On Oct 14

If you want to buy an umbrella at a cheap price and get a good deal.......buy it during the dry season.

9 Likes 2 Shares

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by HacheNoire: 7:36am On Oct 14

With current world trends, buy as much as you can afford. No way Dangote is not going to explode!

DYOR

15 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by ghm: 7:43am On Oct 14

victorazyvictor:
People buying this shares don't know anything. The world is drifting away from oil to Renewal Energy, and here we are building refinery.

That is for automobiles. Aviation is not yet viable electrically.

But the bigger picture is not just planes. Petrochemicals—plastics, fertilizers, chemicals—is the only other source of oil demand growth besides aviation, and it is growing everywhere. Road freight is also much harder to electrify than passenger cars. And even with 634 million EVs on the road by 2050, conventional vehicles will still make up 73% of the global fleet.

The world is not drifting away from oil as fast as people think. Refineries that can process crude into petrochemicals and aviation fuel have a long runway.

9 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by akpumping7720(m): 7:46am On Oct 14

Naaaa so Daar Communications(operators of AIT and Ray power) run sell shares that year. Late Dokpesi used Nigerians to cash out.
Where is Peter Ololo sef? Only real OGs can answer these questions cheesy

22 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by Elsanchez: 7:51am On Oct 14

No wonder banks are bombing me with Dangote IPO emails daily.

3 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by Tooreda(f): 7:57am On Oct 14

We need more money for election.

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by Urgent1Million: 8:00am On Oct 14

Hahahahahahaaaaaa...
I've always known something was seriously off about this IPO.
They didn't get the money they wanted because smart investors know that the offer is hugely overpriced!

3 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by ikennahillary: 8:00am On Oct 14

NaijaHelper1:
Lool. I guess the people that rushed to buy are about to learn a bitter lesson about investing. The way these shares will dump when the sale ban is lifted, the bag holding on this one will be bru'ul.

Joker --- do you think this is crypto , it is called investment on tangible asset for a long hual.

Minimum 5 years waiting .

3 Likes

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by WorldRichest: 8:06am On Oct 14

This particular FRAUD go shock everybody. I just dey look

1 Like

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by WorldRichest: 8:07am On Oct 14

Emeskhalifa:
Baba wan really leave una with iron condemn for hand

Those who invested in his previous IPOs know exactly what I am talking about

.
My brother, tears go full everywhere

1 Like

Re: Dangote Refinery Extends $1.6 Biliion IPO To October 27 by WorldRichest: 8:07am On Oct 14

MartinCorridon:
Them no see too many magas be that.

Dangote should curse APC for tanking the economy.

There was a lot of money flowing - corrupt and legit during PDP days. He was able to harvest more magas then

.
This one doesn’t know his left from his right

2 Likes

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