Dangote Refinery IPO raises estimated N2.15 trillion; PiggyVest joins Chapel Hill Denham for launch
Africa's largest equity offering is scheduled from September 14 to October 13, 2026, priced at N525 per share with a minimum subscription of 10 shares.
PiggyVest and Chapel Hill Denham have partnered to bring the Dangote Refinery Initial Public Offering to Nigerian investors. The event took place in Lagos on September 7, 2026, attended by Aluko Dangote, Bolaji Balogun, and Joshua Chibueze. The IPO is set to run from September 14 to October 13, 2026. It comprises 4.1 billion ordinary shares at a price of N525 per share with a minimum subscription of 10 shares. The offering aims to raise approximately N2.15 trillion to fund the refinery's expansion and growth. Chapel Hill Denham describes this as Nigeria's biggest IPO and the largest equity offering in the country's capital market. Investors must apply for multiples of 10 shares after the initial minimum. An investor with a budget of N1 million can buy 1,900 shares costing N997,500, while a N50 million budget allows for 95,230 shares.
