Dangote Petroleum Refinery and Petrochemicals FZE has extended the subscription period for its initial public offering (IPO) by two weeks to October 27, 2026, following approval from the Securities and Exchange Commission (SEC).
The extension is aimed at giving investors in more African countries additional time to participate in the offering and broaden the refinery’s investor base across the continent.
Sources at the refinery confirmed the development on Monday, noting that the extension would allow more prospective investors to submit their applications before the revised deadline.
The decision to extend the subscription window comes as the company seeks to widen participation in the IPO and create opportunities for investors across African markets to acquire stakes in the business.
The SEC’s approval provides the regulatory backing for the revised subscription timeline, with October 27 now set as the new closing date for the offer.
Dangote Petroleum Refinery and Petrochemicals FZE is part of the Dangote Group, founded by Nigerian billionaire industrialist Aliko Dangote. The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest petroleum refining projects.
The extension is expected to provide additional time for eligible investors to consider the offering and complete their subscriptions before the deadline.
