Dangote Petroleum Refinery and Petrochemicals has reported a pointy building up in investor subscriptions as its landmark Preliminary Public Providing (IPO) enters its ultimate days, with retail and institutional traders accelerating participation forward of the final date of October 27.
The corporate showed, in a remark on Sunday, that the IPO will shut on Tuesday, October 27, as scheduled.
The corporate stated, “That is the general closing date, and no additional extension shall be granted. Buyers wishing to take part will have to entire their subscriptions earlier than the be offering closes.”
The surge in call for follows the refinery’s just lately launched nine-month monetary effects, which confirmed outstanding enlargement in income, profitability, and money era, reinforcing investor self belief within the corporate’s long-term possibilities.
Dangote Refinery reported income of $22.5 billion and web benefit of $4.73 billion for the 9 months ended September 30, 2026, representing a vital turnaround from a loss recorded within the corresponding length of 2025.
Earnings larger by means of 144 in step with cent year-on-year, whilst Income, Passion, Taxes, Depreciation and Amortisation (EBITDA) rose to $5.5 billion, reflecting upper refining throughput, advanced operational reliability and more potent refining margins.
The corporate additionally bolstered its steadiness sheet, shifting from a web debt place to a web money place throughout the length.
It stated the sturdy monetary efficiency, mixed with the refinery’s strategic significance to Africa’s power safety and commercial construction, has persevered to draw broad-based passion from person traders, pension budget, institutional traders, asset managers, execs, trade house owners and individuals of the African diaspora.
The remark stated, “The extent of investor passion we’re seeing displays rising self belief in our trade and within the sturdy monetary effects now we have delivered.
“Buyers are recognising each the standard of our income and the long-term worth introduction alternative represented by means of the refinery.”
In step with the refinery, the IPO has develop into greater than a capital-raising workout, evolving into a chance for Africans and global traders to take part at once within the possession of one of the vital continent’s most important commercial enterprises.
It said that subscriptions were won from throughout Nigeria, different African nations and global markets, underscoring the refinery’s rising popularity as a world-class commercial asset.
The corporate said, “Buyers recognise that this refinery isn’t simply an power asset. This can be a platform for commercial enlargement, foreign-exchange era, regional industry, power safety and financial construction throughout Africa.
“The sturdy reaction to the be offering displays self belief one day of African trade and in our skill to proceed producing sustainable returns for shareholders.”
The corporate additionally reiterated its dedication to broad-based possession, emphasising that the IPO has been structured to make sure that unusual traders can take part along institutional traders within the refinery’s long term enlargement.
It steered potential traders who had no longer but finished their subscriptions to take action straight away thru their stockbrokers and authorized distribution channels earlier than the closing date.
It said, “That is the general alternative for traders to take part on this historical be offering.
“We inspire all traders to finish their programs earlier than the subscription window closes on 27 October.”
Dangote refinery expressed appreciation to regulators, issuing properties, stockbrokers, monetary establishments, fintech companions, investor associations, marketplace operators, and the making an investment public for his or her improve all over the be offering length.
The corporate added that the sturdy call for recorded up to now demonstrated rising investor self belief in African-owned commercial enterprises and highlighted the expanding capability of African capital markets to improve large-scale transformational investments.
The remark stated, “Historical past is being made. The exceptional investor reaction is a formidable vote of self belief in Africa’s long term, in African endeavor, and within the long-term worth that world-class commercial tasks can create when opened to public possession. We stay dedicated to handing over sustained enlargement and enduring worth for all shareholders.”
Peter Uzoho
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