Dangote Refinery IPO Deadline May Be Extended to October 27

Move aims to give more African investors time to participate in ₦2.15 trillion offer

By Henryrich Ojo | Newsworld

The Dangote Group is reportedly planning to extend the subscription deadline for the Dangote Refinery’s initial public offering (IPO) by two weeks to enable more investors across Africa to participate in the share offer. According to TheCable, sources familiar with the development said the proposed extension would move the closing date from October 13 to October 27, 2026. The sources attributed the move to delays in setting up platforms that would allow investors in several African countries to subscribe to the offer through their respective stock exchanges.

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“The major reason is because most exchanges in Africa are just creating platforms for participation,” one source was quoted as saying. The extension is intended to widen access to the offer beyond Nigeria, although the proposed change should be confirmed through an official announcement from the company.

The refinery’s IPO opened on September 14, 2026, with an offer of 4.1 billion ordinary shares at ₦525 per share and a minimum subscription of 10 shares. If fully subscribed, the offer could raise approximately ₦2.15 trillion to support the refinery’s expansion plans. The shares are expected to be listed on the Nigerian Exchange Limited following completion of the offering.

Dangote Group Chief Executive Officer Aliko Dangote has described the offer as the “People’s IPO”, saying it would give members of the public an opportunity to own a stake in the refinery. He said the initiative reflected the company’s intention to share its growth and prosperity with the public, adding that the refinery’s development journey extended beyond its current operations.

The proposed deadline extension could give prospective investors more time to review the offer and complete subscription arrangements, particularly in African markets where participation platforms are still being developed. The IPO is a major fundraising initiative linked to the refinery’s expansion ambitions, while its potential proceeds depend on the level of investor participation.

Investors should consult the official offer documents and announcements from the company and relevant market authorities for confirmed subscription dates, eligibility requirements and procedures. Until the company formally confirms the reported extension, October 27 should be treated as a proposed rather than a final closing date.