Dangote Petroleum Refinery and Petrochemicals has extended its initial public offering by two weeks, moving the application deadline from the 13th of October to the 27th of October 2026.
The company said the extension, approved by Nigeria’s Securities and Exchange Commission, is intended to give more investors in Nigeria and other African markets time to participate. It will also allow the company to expand distribution channels and develop cross-border investment arrangements, including depositary receipt programmes.
The IPO covers 4.1 billion ordinary shares priced at ₦525 each, valuing the offer at about ₦2.15 trillion, or roughly $1.6 billion. It opened on the 14th of September and was originally scheduled to close on the 13th of October.
Aliko Dangote said the extension was intended to ensure ordinary people have a chance to own a stake in the refinery. The offering is expected to be Africa’s largest capital-market operation to date.
Reports say the IPO has already been heavily oversubscribed, with Dangote stating that demand had exceeded the offer by about four times. The company is using the additional period to improve access for investors outside Nigeria through stock exchanges and investment platforms across Africa.
The revised timetable sets the application close on the 27th of October, with collation of returns scheduled for the 3rd of November. The extension gives prospective investors an additional 14 days to apply for shares.
The IPO is being closely watched as a test of African capital-market depth and cross-border investment capacity. By extending the offer, Dangote Petroleum Refinery is seeking to broaden participation beyond Nigeria and attract African investors into one of the continent’s most significant industrial assets.
The outcome will be important for both the refinery’s funding plans and the wider effort to build more integrated African capital markets. The final subscription figures will show how much demand the offer can generate across the continent.
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