Dangote Petroleum Refinery has set the minimum subscription for its proposed initial public offering (IPO) at N5,250, allowing investors to purchase at least 10 ordinary shares at N525 each.
Gatekeepers News reports that the company disclosed the minimum subscription on Monday during the signing ceremony for the refinery’s IPO in Lagos.
The Securities and Exchange Commission approved the offer of 4.1 billion ordinary shares at N525 per share, which could raise about N2.15 trillion if fully subscribed.
The IPO is scheduled to open on September 14, 2026, and close on October 13. The offer is expected to broaden public ownership of the refinery and provide funds to support its expansion plans.
Dangote Refinery, located in Lagos, currently has a refining capacity of about 650,000 barrels per day. The company plans to expand the facility’s capacity to about 1.4 million barrels per day, which Dangote says could make it the world’s largest refinery by 2028.
The N5,250 minimum subscription means individual investors can participate in the offer with a relatively small amount, potentially giving more Nigerians an opportunity to own shares in one of the country’s largest industrial projects.
