Dangote Refinery sets IPO price at N525 per share for September 14 launch

Dangote Petroleum Refinery has announced a specific pricing strategy for its upcoming initial public offering (IPO). The deal team is considering a price of N525 per share. At this valuation, the 4.1 billion shares constitute an issue worth approximately N2.15 trillion. This transaction is expected to launch on September 14, 2026, according to Aliko Dangote, who confirmed these details in interviews during a visit to Botswana. The listing aims to broaden public ownership after a private placement raised $2.5 billion earlier in the year. The refinery reported record first-half revenue of N19.13 trillion ($13.91 billion) in 2026, driven by full capacity production and throughput rates up to 700,000 barrels per day.