Investors Rush for Dangote Refinery Shares as Offer Closes on 27 October.
The company confirmed, in a statement yesterday, that the IPO will close on Tuesday, October 27, as scheduled.
The company said, “This is the final deadline, and no further extension will be granted.
Investors wishing to participate must complete their subscriptions before the offer closes.” The surge in demand follows the refinery’s recently released nine-month financial results, which showed exceptional growth in revenue, profitability, and cash generation, reinforcing investor confidence in the company’s long-term prospects.
Dangote Refinery reported revenue of $22.5 billion and net profit of $4.73 billion for the nine months ended September 30, 2026, representing a significant turnaround from a loss recorded in the corresponding period of 2025. Revenue increased by 144 per cent year-on-year, while Earnings, Interest, Taxes, Depreciation and Amortisation (EBITDA) rose to $5.5 billion, reflecting higher refining throughput, improved operational reliability and stronger refining margins. The company also strengthened its balance sheet, moving from a net debt position to a net cash position during the period. It said the strong financial performance, combined with the refinery’s strategic importance to Africa’s energy security and industrial development, has continued to attract broad-based interest from individual investors, pension funds, institutional investors, asset managers, professionals, business owners and members of the African diaspora.
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