Dangote: 5 Steps To Buy Refinery Shares As IPO Launch Date Is Announced
- The Dangote Refinery IPO date has been set, and investors across the world are expected to invest ahead of the official offer.
- Femi Otedola is one of the investors anticipating the launch date and has planned a $100 million investment
- The 650,000-barrels-per-day refinery, valued at up to $50 billion, is expected to list up to 10% equity
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Investors are positioning ahead of the Initial Public Offering (IPO) of the Dangote Group’s refinery, with President and Chief Executive, Aliko Dangote, confirming that the listing is expected to launch in September 2026.
Dangote disclosed this during an interaction with journalists after leading chairman Femi Otedola and senior executives of First HoldCo and its subsidiaries on a tour of the refinery complex in Lagos on Wednesday, May 20.
Source: Getty Images
He said:
“We are trying to make sure that by September, we’ll be out there in the market to sell the IPO."
The early stage of investor interest
According to him, even before the offer is open, investor interest in the refinery IPO has skyrocketed, approaching $2 billion, AriseTv reports.
"Right now, when we even say we are going to do a private placement, already we have people who have actually requested to buy. And we have an amount of almost $2 billion."
He added that allocations will be divided between private placement and an IPO that targets massive public ownership.
"We are not selling after that, but we’ll see what we can allocate to them. We can see what we can allocate to an IPO."
Dangote explained that the company’s main objective with the IPO is to get a larger percentage of Nigerians to invest in it.
He said:
"Our target really is to get the larger part of the society to buy, yes."
Vision of wealth creation and public ownership
The CEO noted that the initiative is to allow all Nigerians to benefit from the future growth potential of the refinery, pointing out its increasing popularity across the globe.
He stated:
"What we are trying to do is actually bringing in people when it is at this low level and for them to have an upside.
"We want it to be like when you buy Amazon or you buy Apple. All those people, everybody has become a millionaire. And that's what we want to bring into Africa."
Otedola earmarks $100 million for the IPO
Meanwhile, Otedola revealed his intention to invest up to $100 million in the refinery through private placement prior to the public offering, Punch reports.
He said:
"And, just for me personally, I had asked him... I've spent 25 visits with him, so my compensation to him is, he will allot me share of a value of 100 million dollars in private placement."
This is another of the reasons why I sold my shares at Geregu and invested my profit in the IPO of Dangote Refinery. We are ready.
Source: Getty Images
How to buy Dangote Refinery shares
The IPO of the refinery has not begun yet, so investors have some time to make the necessary arrangements. Here’s how to get your investment ready:
- Register on NGX platform: create an investor profile on the Nigeria Exchange Group portal.
- Get a brokerage account: open a brokerage account with any SEC-registered platforms like Bamboo, Afrinvest, Meristem, among others.
- Obtain CSCS number: get your Central Securities Clearing System (CSCS) number from your broker.
- Link CSCS to NGX account: attach your CSCS number to your investor account on NGX.
- Subscribe at IPO opening: when the Dangote Refinery IPO opens, you will see “Available Offers” on the NGX platform or brokerage apps where you can subscribe.
Nigerian company to build ‘world class’ refinery
Legit.ng earlier reported that Clarivo Oil and Gas Ltd has announced plans to construct a world‑class oil refinery in Calabar.
The company projects that the refinery will come online within about five years, subject to regulatory approvals and the successful completion of project phases.
The expected refinery will incorporate modern crude distillation, catalytic cracking and hydrotreating units, key components that would enable the production of products such as petrol (PMS), diesel (AGO) and aviation fuel (Jet A1) to international specifications.
Source: Legit.ng
