₦airaland Forum

4willer:
Dangote refinery IPO meets target as investors from 119 countries apply – Report

Dangote Petroleum Refinery and Petrochemicals FZE has reportedly enough commitments from Nigerian and retail investors to meet its initial public offering (IPO) fundraising target, with investors from 119 countries applying for shares in the company.

This is according to a Bloomberg report citing people familiar with the matter, who disclosed that the offering had attracted between $1.5 billion and $1.6 billion in fully funded commitments from domestic and retail investors.

The development comes as the refinery’s IPO is scheduled to close today, October 27, 2026, following a two-week extension of the application period, with strong demand potentially creating an allocation squeeze for international investors.

Dangote IPO attracts global investors

According to people familiar with the offering, investors from all 54 African countries have requested allocations, while applications have been received from 119 countries worldwide.

The sources, who requested anonymity because the process is ongoing, said commitments from Nigerian and retail investors mean the refinery has effectively reached its fundraising target before accommodating international demand.

The offering includes nominee arrangements involving Standard Bank Group, Egypt and Ethiopia, alongside global depositary receipts being sold through exchanges in Kenya and Botswana to facilitate participation by investors outside Nigeria.

The company is expected to use a 30% over-allotment option, potentially increasing the amount raised to about $2.1 billion and creating additional room for overseas investors, although foreign demand could still exceed available allocations.

Speaking in Gaborone, Botswana, on October 14, Aliko Dangote said the refinery had already surpassed its fundraising target, with investor interest exceeding the amount being sought by more than three or four times.

Bloomberg also reported that Dangote could consider selling part of his stake through a secondary sale to investors who miss out on IPO allocations, although this would depend on his assessment of the final order book.

The Dangote refinery IPO opened on September 14, 2026, with the company seeking to raise approximately $1.6 billion, equivalent to N2.15 trillion, through the sale of 4.1 billion ordinary shares at N525 each.

The offering has a minimum subscription of 10 shares, valued at N5,250, and is targeting as many as 10 million investors, particularly retail investors across Nigeria and other African markets.

Proceeds from the offering are intended to support the expansion of the Lagos-based refinery, with plans to increase its processing capacity to 1.4 million barrels per day by the first quarter of 2029.

The subscription period was initially scheduled to close on October 13 but was extended by two weeks to October 27 following approval from the Securities and Exchange Commission (SEC).

As Nairametrics previously reported, the extension was intended to support wider investor participation and provide additional time for prospective subscribers to complete account opening, identity verification and other regulatory requirements.

African markets expand IPO access

The Dangote refinery IPO has attracted participation across several African markets, with the company pursuing regulatory approvals and trading arrangements to facilitate cross-border investment.

These arrangements cover East and Southern Africa, alongside initiatives in Ethiopia and Egypt aimed at expanding access to the refinery’s shares.

In East Africa, regulators in Kenya and Uganda cleared routes for eligible investors to participate in the IPO, with the regional offering expected to raise up to $300.4 million.

In Southern Africa, Gaborone, Botswana’s capital, was selected as a trading venue for depositary receipts targeting investors across the region, with the programme expected to raise $500 million.

Ethiopia’s capital markets regulator approved an arrangement allowing the refinery to offer IPO-linked securities to up to 100 qualified investors in the country.

In Egypt, Dangote Group held discussions with the Egyptian Exchange over a proposed depositary receipt programme that would allow eligible investors to gain exposure to shares in the refinery.

The refinery said the extension of the subscription deadline would support efforts to expand access across African markets, including through additional distribution channels and depositary receipt programmes, while giving prospective investors more time to complete regulatory requirements.

Let this IPO end make we listen to other market stories.

To the extent to which you call others spokepersons.

You think say na only you get sense, people express support for specific policies they like you call them spokeperson, but you find all the negative news about the country drop for here, u de tell us say you non be spokesperson.

Granted you are not a spokesperson, what then makes you think others are spokespersons?

If they qualify as spokespersons then you also qualify, na so the matter be

mikeapollo:

Wetin I talk now that makes you angry with me again today?
I did not mention names; and I did not know that what I said would hit you so hard like that.
Why na?
Are you a spokesperson of the ruling party/govt?

Since you don't want to add reasoning to a sincere conversation. You are blocked 😔

9jatriot:
Stop telling lies, change this to the truth.
"... If I were to vote, I would " vote my bloda Pete Obi....

One less liar to de disturb my peace.

I noticed that you have now started scheduling your time not to be posting 2am EST again.
Mr 'IN the West'

MEGAWEALTH02:
Since you don't want to add reasoning to a sincere conversation. You are blocked 😔

9jatriot:
To the extent to which you call others spokepersons.

You think say na only you get sense, people express support for specific policies they like you call them spokeperson, but you find all the negative news about the country drop for here, u de tell us say you non be spokesperson.

Granted you are not a spokesperson, what then makes you think others are spokespersons?

If they qualify as spokespersons then you also qualify, na so the matter be

Correction:
The ''ruling party/ govt'' is not the same as the ''country''.
Most of you make this mistake by equating the govt in power to the country (or State)
The country includes every citizen and institution; the govt is only a group of people ruling at a time headed by one person

Please learn to know and appreciate the difference.

Are we going to witness another extension?

4willer:
Dangote refinery IPO meets target as investors from 119 countries apply – Report

Dangote Petroleum Refinery and Petrochemicals FZE has reportedly enough commitments from Nigerian and retail investors to meet its initial public offering (IPO) fundraising target, with investors from 119 countries applying for shares in the company.

This is according to a Bloomberg report citing people familiar with the matter, who disclosed that the offering had attracted between $1.5 billion and $1.6 billion in fully funded commitments from domestic and retail investors.

The development comes as the refinery’s IPO is scheduled to close today, October 27, 2026, following a two-week extension of the application period, with strong demand potentially creating an allocation squeeze for international investors.

Dangote IPO attracts global investors

According to people familiar with the offering, investors from all 54 African countries have requested allocations, while applications have been received from 119 countries worldwide.

The sources, who requested anonymity because the process is ongoing, said commitments from Nigerian and retail investors mean the refinery has effectively reached its fundraising target before accommodating international demand.

The offering includes nominee arrangements involving Standard Bank Group, Egypt and Ethiopia, alongside global depositary receipts being sold through exchanges in Kenya and Botswana to facilitate participation by investors outside Nigeria.

The company is expected to use a 30% over-allotment option, potentially increasing the amount raised to about $2.1 billion and creating additional room for overseas investors, although foreign demand could still exceed available allocations.

Speaking in Gaborone, Botswana, on October 14, Aliko Dangote said the refinery had already surpassed its fundraising target, with investor interest exceeding the amount being sought by more than three or four times.

Bloomberg also reported that Dangote could consider selling part of his stake through a secondary sale to investors who miss out on IPO allocations, although this would depend on his assessment of the final order book.

The Dangote refinery IPO opened on September 14, 2026, with the company seeking to raise approximately $1.6 billion, equivalent to N2.15 trillion, through the sale of 4.1 billion ordinary shares at N525 each.

The offering has a minimum subscription of 10 shares, valued at N5,250, and is targeting as many as 10 million investors, particularly retail investors across Nigeria and other African markets.

Proceeds from the offering are intended to support the expansion of the Lagos-based refinery, with plans to increase its processing capacity to 1.4 million barrels per day by the first quarter of 2029.

The subscription period was initially scheduled to close on October 13 but was extended by two weeks to October 27 following approval from the Securities and Exchange Commission (SEC).

As Nairametrics previously reported, the extension was intended to support wider investor participation and provide additional time for prospective subscribers to complete account opening, identity verification and other regulatory requirements.

African markets expand IPO access

The Dangote refinery IPO has attracted participation across several African markets, with the company pursuing regulatory approvals and trading arrangements to facilitate cross-border investment.

These arrangements cover East and Southern Africa, alongside initiatives in Ethiopia and Egypt aimed at expanding access to the refinery’s shares.

In East Africa, regulators in Kenya and Uganda cleared routes for eligible investors to participate in the IPO, with the regional offering expected to raise up to $300.4 million.

In Southern Africa, Gaborone, Botswana’s capital, was selected as a trading venue for depositary receipts targeting investors across the region, with the programme expected to raise $500 million.

Ethiopia’s capital markets regulator approved an arrangement allowing the refinery to offer IPO-linked securities to up to 100 qualified investors in the country.

In Egypt, Dangote Group held discussions with the Egyptian Exchange over a proposed depositary receipt programme that would allow eligible investors to gain exposure to shares in the refinery.

The refinery said the extension of the subscription deadline would support efforts to expand access across African markets, including through additional distribution channels and depositary receipt programmes, while giving prospective investors more time to complete regulatory requirements.

MEGAWEALTH02:
Since you don't want to add reasoning to a sincere conversation. You are blocked 😔

Now that you have blocked him, how would he pay his bills 🤔 Please unblock him in the interest of the masses 🤣🤣🤣

GTCO Q3

https://doclib.ngxgroup.com/Financial_NewsDocs/48178_GUARANTY_TRUST_HOLDING_COMPANY_PLC-_QUARTER_3_-_FINANCIAL_STATEMENT_FOR_2026_FINANCIAL_STATEMENTS_OCTOBER_2026.pdf

MEGAWEALTH02:
Are we going to witness another extension?

No more extension!
Make them list the shares asap in November so we shift the battle ground to NGX

Sunrisepebble:
Not good

Jesus

My chest

Slammmmmmmm:
GTCO Q3

https://doclib.ngxgroup.com/Financial_NewsDocs/48178_GUARANTY_TRUST_HOLDING_COMPANY_PLC-_QUARTER_3_-_FINANCIAL_STATEMENT_FOR_2026_FINANCIAL_STATEMENTS_OCTOBER_2026.pdf

Wow
It is a clear battle between FBN and GT for the EPS and potential dividend per share

Join him

ayobama1:
Now that you have blocked him, how would he pay his bills 🤔 Please unblock him in the interest of the masses 🤣🤣🤣

We can have intelligent conversations that help people better understand the direction of the market, especially as political calculations and strategies continue to unfold. We must recognise that the stock market does not operate in isolation from politics; without politics, the market as we know it today would not exist.

Nawaoh

Sunrisepebble:
Not good

Na OTEDOLA money dey work for FBN if not eh

mikeapollo:
Wow
It is a clear battle between FBN and GT for the EPS and potential dividend per share

Good at least you don de admit small small say na opposition party you be spokesman for.

I just said let me quickly go through your old post to provide receipt, boy oh boy, in the month of October alone, you have 13 tabs of post already. Each tab takes around 30 post depending on how long, that means you have already made at least 390 post in October, yet the month even even end.

I had to abandon my quest for receipt. Non be me you go give the kind work wen Tinubu give Atiku to go de find wertin not lost for US, wen cost the Atiku 1.2M USD while Mr Ikemefuna de use the money flex.

mikeapollo:
Correction:
The ''ruling party/ govt'' is not the same as the ''country''.
Most of you make this mistake by equating the govt in power to the country (or State)
The country includes every citizen and institution; the govt is only a group of people ruling at a time headed by one person

Please learn to know and appreciate the difference.

LOL,,, E be like you don join me oh, How we go do our bills for the next 3 weeks? We go keep am wait for am.

I can't fit laugh abeg. I think psychologists call it grandiose delusions

For the non political guys, I am sorry, I just don't like when they pollute here with politics and then with lies. I'd try and restrain myself for a while until...

ayobama1:
Now that you have blocked him, how would he pay his bills 🤔 Please unblock him in the interest of the masses 🤣🤣🤣

MEGAWEALTH02:
We can have intelligent conversations that help people better understand the direction of the market, especially as political calculations and strategies continue to unfold. We must recognise that the stock market does not operate in isolation from politics; without politics, the market as we know it today would not exist.

Absolutely!

When a political party wins election and forms a govt, and that govt decides to devalue the nation's currency and inflation is high, citizens would naturally tend to put their funds in high-yield investments (e.g. stocks, bonds etc.) that could help them hedge against the effects of inflation.

So in the final analysis, the investment decision would be influenced or affected by decisions by political actors to a great extent!

Tinubu seeks Senate approval for $20.5bn, €1.04bn Foreign Loans


Eku iṣẹ́, Sir! Ẹ jọ̀ọ́, ẹ bá wa gbé TRANSPOWER PLC sókè o! 😂

Nigerians desperately need reliable electricity. Perhaps, at the end of the day, these loans will finally translate into tangible benefits for the masses. We hope that the investments will deliver results that ordinary Nigerians can feel in their daily lives, because electricity is not a luxury; it is essential for economic growth, business survival, and improved living standards.

Louder so those at the bank can hear wella

mikeapollo:
Absolutely!

When a political party wins election and forms a govt, and that govt decides to devalue the nation's currency and inflation is high, citizens would naturally tend to put their funds in high-yield investments (e.g. stocks, bonds etc.) that could help them hedge against the effects of inflation.

So in the final analysis, the investment decision would be influenced or affected by decisions by political actors to a great extent!

9jatriot:
Good at least you don de admit small small say na opposition party you be spokesman for.

I just said let me quickly go through your old post to provide receipt, boy oh boy, in the month of October alone, you have 13 tabs of post already. Each tab takes around 30 post depending on how long, that means you have already made at least 390 post in October, yet the month even even end.

I had to abandon my quest for receipt. Non be me you go give the kind work wen Tinubu give Atiku to go de find wertin not lost for US, wen cost the Atiku 1.2M USD while Mr Ikemefuna de use the money flex.

I never said nor agreed that I am a spokesperson for any opposition party ooo. Abeg.

And please; don't start the issue about Tinubu and Atiku and what happened in the US some years ago. I hear that somebody refunded US460,000 dollars
Abeg ooo because that is something that somebody does not want Nigerians to know and discuss.
I NO WANT TROUBLE

9jatriot:
LOL,,, E be like you don join me oh, How we go do our bills for the next 3 weeks? We go keep am wait for am.

I can't fit laugh abeg. I think psychologists call it grandiose delusions

For the non political guys, I am sorry, I just don't like when they pollute here with politics and then with lies. I'd try and restrain myself for a while until...

Anambra project 🤪

mikeapollo:
Wow
It is a clear battle between FBN and GT for the EPS and potential dividend per share

Their EPS may be at par. But, we don't know Firstholdco to pay a good dividend. Except this renewed Firstholdco where Ote$ had promised to pay 60% of his earning as dividend.

jonnysessy:
Their EPS may be at par. But, we don't know Firstholdco to pay a good dividend. Except this renewed Firstholdco where Ote$ had promised to pay 60% of his earning as dividend.

Yes, it is this Ote$ policy of 60% minimum dividend per share that will determine a lot of things.
If we go by this policy and Q3 results, then N10 dividend per share is already guaranteed for FBN shareholders, and Q4 could make it higher.

MEGAWEALTH02:
Are we going to witness another extension?

Why? All your top ups never do you? Longer throat

mikeapollo:
No more extension!
Make them list the shares asap in November so we shift the battle ground to NGX

You don load up wela. Wedon!

Lol. The 100 million voters need to contact the opposition b4 knowing what alternative plans they have speaks volumes.

mikeapollo:
The opposition will tell you if you contact them.
I am not a spokesperson for the opposition the way some of you have become for the ruling party/govt.

All I know is, there are various economic management theories.

You are forgetting the Tony factor in Transpower. Tony no dey too pay dividend

MEGAWEALTH02:
Tinubu seeks Senate approval for $20.5bn, €1.04bn Foreign Loans


Eku iṣẹ́, Sir! Ẹ jọ̀ọ́, ẹ bá wa gbé TRANSPOWER PLC sókè o! 😂

Nigerians desperately need reliable electricity. Perhaps, at the end of the day, these loans will finally translate into tangible benefits for the masses. We hope that the investments will deliver results that ordinary Nigerians can feel in their daily lives, because electricity is not a luxury; it is essential for economic growth, business survival, and improved living standards.

SonofElElyonRet:
You don load up wela. Wedon!

I couldn't subscribe to as much units as I wanted because of fear of possible refund due to oversubscription.
If things go well, I would buy more after listing

Trans corp oh. Thank God In commot on time.

Oasisblue:
Lol. The 100 million voters need to contact the opposition b4 knowing what alternative plans they have speaks volumes.

Did you ask me to tell you the policies/ideas of Tinubu / Buhari (as opposition politicians) before you voted for them in 2015 and 2023?
Why do you now want me to tell you the policies and ideas of the opposition in 2026?

People who want to know the policies and ideas of the opposition are contacting them and following their campaign (website, email, phone, flyers etc)
Do same if you damn care. Or forget.