L-R, Managing Director , Société nationale des pétroles du Congo (SNPC) Maixent Raool Ominga; Received gift From President/CE, Dangote Industries Limited, Aliko Dangote; During the visit to the Dangote Petroleum Refinery & Petrochemicals,Lekki Lagos recently
By Peace Udugba -The Daily Torch Media
Dangote Petroleum Refinery and Petrochemicals has reported increased investor interest in its ongoing Initial Public Offering (IPO), with subscriptions gathering momentum ahead of the offer’s scheduled closure on Tuesday, October 27, 2026.
The company confirmed that the offer would close as scheduled, stressing that there would be no further extension. Investors seeking to participate have been advised to complete their subscriptions before the deadline.
The growing demand follows the release of the refinery’s nine-month financial results, which showed significant increases in revenue, profitability and cash generation, strengthening investor confidence in its business prospects.
For the nine months ended September 30, 2026, the refinery reported revenue of $22.5 billion and a net profit of $4.73 billion, marking a significant turnaround from the loss recorded in the corresponding period of 2025.
Revenue rose by 144 per cent year-on-year, while earnings before interest, taxes, depreciation and amortisation (EBITDA) increased to $5.5 billion.
The company attributed the performance to higher refining throughput, improved operational reliability and stronger refining margins.
It also reported an improvement in its financial position, moving from a net debt position to a net cash position during the period.
According to the company’s management, the strong financial results, combined with the refinery’s strategic importance to Africa’s energy security and industrial development, have attracted interest from individual investors, pension funds, institutional investors, asset managers, business owners, professionals and members of the African diaspora.
“The level of investor interest we are seeing reflects growing confidence in our business and in the strong financial results we have delivered. Investors are recognising both the quality of our earnings and the long-term value creation opportunity represented by the refinery,” the company said.
Management described the IPO as more than a capital-raising exercise, saying it offers African and international investors an opportunity to participate directly in the ownership of one of the continent’s major industrial enterprises.
The company also disclosed that subscriptions had come from across Nigeria, other African countries and international markets, reflecting the refinery’s growing profile as a major industrial asset.
It said the refinery’s significance extends beyond the energy sector to include industrial growth, foreign exchange generation, regional trade and broader economic development.
“Investors recognise that this refinery is not merely an energy asset. It is a platform for industrial growth, foreign-exchange generation, regional trade, energy security and economic development across Africa. The strong response to the offer reflects confidence in the future of African industry and in our ability to continue generating sustainable returns for shareholders,” management said.
The company reiterated its commitment to broad-based ownership, noting that the offer was structured to enable individual investors to participate alongside institutional investors in its future growth.
With the subscription window scheduled to close on Tuesday, October 27, prospective investors who have yet to complete their applications have been urged to act promptly through their stockbrokers and other approved distribution channels.
“This is the final opportunity for investors to participate in this historic offer. We encourage all interested investors to complete their applications before the subscription window closes on October 27,” the company said.
Management expressed appreciation to regulators, issuing houses, stockbrokers, financial institutions, fintech partners, investor associations, market operators and members of the investing public for their support throughout the offer period.
It added that the reported demand demonstrated growing investor confidence in African-owned industrial enterprises and highlighted the capacity of African capital markets to support large-scale investments.
“History is being made. The remarkable investor response is a powerful vote of confidence in Africa’s future, in African enterprise, and in the long-term value that world-class industrial projects can create when opened to public ownership. We remain committed to delivering sustained growth and enduring value for all shareholders,” the company said.
Tags: Dangote Refinery, Dangote IPO, Nigerian Stock Market, Investment, Capital Market, Aliko Dangote
