Bukola Afeni
The Dangote Petroleum Refinery and Petrochemicals FZE has announced an extension of the application period for its Initial Public Offering (IPO).
The extension was approved by the Securities and Exchange Commission (SEC).
According to the company, the offer period which opened on Monday, September 14, 2026, and was initially scheduled to close on Tuesday, October 13, 2026, will now close on Tuesday, October 27, 2026.
The IPO involves the offer of 4,100,000,000 ordinary shares of US$0.000013 each at N525.00 per share.
The company said since the launch of the IPO, it has received very strong interest from a broad range of eligible investors across Africa and other jurisdictions.
It explained that the extension is intended to support ongoing market-access initiatives across African jurisdictions, including the expansion of distribution channels and the implementation of depositary receipt programmes designed to facilitate efficient cross-border investor participation.
The extension will also provide additional time for prospective investors to complete applicable account-opening, identity verification and regulatory requirements necessary for participation in the offer.
The Issuer said it remains encouraged by the level of investor engagement received to date across its target markets and believes that the extension will provide more investors across Africa with an opportunity to participate in the offer.
Speaking on the development, the Managing Director and Chief Executive Officer of Dangote Petroleum Refinery and Petrochemicals FZE, David Bird, said the extension will give more investors across Africa the opportunity to participate.
“We welcome the SEC’s approval of the extension, which will give more investors across Africa the opportunity to participate in the Offer.
“From the outset, our ambition has been to enable as many people as possible to participate in the IPO and share in DPRP’s future growth. The additional time will help us extend that opportunity to more investors across Africa,” he said.
