{"id":5201,"date":"2026-10-13T09:57:30","date_gmt":"2026-10-13T09:57:30","guid":{"rendered":"https:\/\/consumerconnectng.com\/?p=5201"},"modified":"2026-10-13T10:04:25","modified_gmt":"2026-10-13T10:04:25","slug":"dangote-refinery-extends-ipo-period-by-2-weeks","status":"publish","type":"post","link":"https:\/\/consumerconnectng.com\/?p=5201","title":{"rendered":"Dangote Refinery extends IPO period by 2 weeks"},"content":{"rendered":"<p>*<strong><em>Dangote Petroleum Refinery and Petrochemicals FZE, Lagos, announces the extension of the application period for its ongoing Initial Public Offering by two weeks, following approval by the Securities and Exchange Commission<\/em><\/strong><\/p>\n<p>Alexander Davis | ConsumerConnect<\/p>\n<p>Sequel to regulatory approval by the Securities and Exchange Commission (SEC), the Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) has announced the extension of the application period for its Initial Public Offering (IPO) by two weeks.<\/p>\n<p>Dangote Refinery&#8217;s ongoing IPO has been described as one of the most significant capital market offerings in Nigerian and African history.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"10XF8ZnSem\"><p><a href=\"https:\/\/consumerconnectng.com\/?p=5165\">Broadband connectivity and Nigeria&#8217;s push for digital powerhouse<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cBroadband connectivity and Nigeria\u2019s push for digital powerhouse\u201d \u2014 Consumer Experience Is A Top Priority\" src=\"https:\/\/consumerconnectng.com\/?p=5165&amp;embed=true#?secret=GDo2Ei1oQr#?secret=10XF8ZnSem\" data-secret=\"10XF8ZnSem\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>The IPO, which consists of 4,100,000,000 ordinary shares of US$0.000013 each at N525.00 per share, opened Monday, September 14, 2026.<\/p>\n<p>Earlier, the Offering was originally scheduled to close Tuesday, October 13, 2026.<\/p>\n<p>However, the Management of the oil-refining facility, in a statement,&nbsp; Monday, October 12, 2026, discloses the application period would remain open until Tuesday, October 27 this year.<\/p>\n<p>The statement noted the extension followed exceptionally strong interest from a broad spectrum of eligible investors across Africa and other international markets.<\/p>\n<p>Since the launch of the offer, investor participation has underscored the growing confidence in Dangote Refinery&#8217;s long-term growth prospects and its strategic role in transforming Africa&#8217;s energy landscape.<\/p>\n<p>In a chat with media men in the Refinery Monday, Alhaji Aliko Dangote, President\/Chief Executive of Dangote Group, said : &#8220;The IPO is going very well.<\/p>\n<p>&#8220;We will extend the closing date because we want more of our African brothers and sisters to participate.<\/p>\n<p>&#8220;Following our discussions with the Nairobi Stock Exchange, we have identified what we believe is the best way to facilitate participation.&#8221;<\/p>\n<p>He stated: &#8220;We are now trying to replicate that arrangement with other African exchanges to ensure wider participation.&#8221;<\/p>\n<p>The President\/Chief Executive of Dangote Group said: &#8220;But when it comes to the amount of money we originally intended to raise, we have already received subscriptions amounting to more than three or four times that figure.<\/p>\n<p>&#8220;So, it is not about the amount of money. It is about the number of people who will have the opportunity to participate in this offer. That means quite a lot to us.\u201d<\/p>\n<p>The company said, the two-week additional period would support ongoing market-access initiatives across African jurisdictions, including the expansion of distribution channels and the rollout of unsponsored depository receipt programmes.<\/p>\n<p>The Offering, however, designed to facilitate seamless cross-border investment.<\/p>\n<p>The company explained it would also provide more time for prospective investors to complete account-opening procedures, identity verification processes, and other regulatory requirements necessary for participation in the offer.<\/p>\n<p>Speaking on the extension, David Bird, Managing Director and Chief Executive Officer (CEO) of Dangote Petroleum Refinery and Petrochemicals FZE, said: \u201cWe welcome the SEC&#8217;s approval of the extension, which will give more investors across Africa the opportunity to participate in the Offer.<\/p>\n<p>&#8220;From the outset, our ambition has been to enable as many people as possible to participate in the IPO and share in DPRP&#8217;s future growth.<\/p>\n<p>&#8220;The additional time will help us extend that opportunity to more investors across Africa.\u201d<\/p>\n<p>Dangote Refinery noted it remains highly encouraged by the level of investor engagement received across its target markets and believes the extension will ensure broader participation by retail, institutional and cross-border investors seeking to be part of the refinery&#8217;s next phase of growth.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>*Dangote Petroleum Refinery and Petrochemicals FZE, Lagos, announces the extension of the application period for its ongoing Initial Public Offering by two weeks, following approval&hellip;<\/p>\n","protected":false},"author":2,"featured_media":4026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"_FSMCFIC_featured_image_caption":"Aliko Dangote, President\/Chief Executive of Dangote Group (middle), During the Launch of the Dangote Petroleum Refinery's IPO Recently 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href=\"https:\/\/consumerconnectng.com\/?cat=20\" rel=\"category\">Highlights<\/a> <a href=\"https:\/\/consumerconnectng.com\/?cat=3\" rel=\"category\">InfoEducation<\/a> <a href=\"https:\/\/consumerconnectng.com\/?cat=4\" 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