5 Things To Lookout For After Dangote Refinery IPO Closes 13 October 2026

As the Dangote Petroleum Refinery and Petrochemicals FZE IPO subscription closes tomorrow, 13 October 2026, we have decided to update you on 5 Things To Lookout For After Dangote Refinery IPO Closes 13 October 2026. So keep reading!

If you haven't subscribed yet, now is the time to act. Read subscription details here How To Buy Dangote Refinery Shares via Investnaija

Here Are 5 Things To Lookout for after Dangote Refinery IPO Closure

1. Allotment Announcement — Expected around mid-November 2026 (indicative SEC clearance of Basis of Allotment ~11 November), revealing how many shares each applicant receives (especially if oversubscribed).

2. Refund of surplus/rejected application monies — Typically within about 5 business days after the Allotment Date.

3. Crediting of allotted shares to CSCS accounts — Expected within about 15 business days after the Allotment Date.

4. Official listing and start of trading on the Nigerian Exchange (NGX) - Indicative timeline points to late November or early December 2026.

5. Confirmation of final offer size —Whether the greenshoe/oversubscription option (up to 30% extra shares) is exercised and the exact number of shares issued.

The offer closes on 13 October 2026. It opened on 14 September 2026. Shares are priced at N525 each, with a minimum subscription of 10 shares (%5,250).

Up to 4.1 billion ordinary shares are on offer, targeting roughly %2.15 trillion (~$1.6 billion) if fully subscribed; a greenshoe option allows up to 30% more if demand is strong.

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It is positioned as Africa’s largest IPO and a “people’s IPO,” with applications via SEC approved banks, stockbrokers, and digital platforms only (not directly from Dangote).

Proceeds will partly fund a planned expansion to double capacity to ~1.4 million barrels per day; listing on the Nigerian Exchange is expected in November 2026.