Dangote Refinery Locks In ₦525 Share Price Ahead of Landmark September IPO Launch
Aliko Dangote locks down a ₦525 share price and a September 14 order book launch for the Dangote Petroleum Refinery's historic $1.5 billion initial public offering, triggering a massive wave of pre-offer positioning across the Nigerian Exchange Group.
The financial markets are bracing for what is projected to be Africa’s largest-ever equity offering. Africa’s richest man, Aliko Dangote, has officially locked down the pricing metrics and timeline for the much-anticipated initial public offering (IPO) of the Dangote Petroleum Refinery, setting the share price at ₦525.
Speaking during a business engagement in Botswana, Dangote confirmed that the order book for the mega-refinery is scheduled to officially open on September 14. The landmark transaction will involve the issuance of 4.1 billion shares, targeted at raising approximately $1.5 billion in primary capital.
Deal Structure and Market Impact
Market analysts indicate that the public offering operates within an indicative price range of ₦500 to ₦595, with the ₦525 sweet spot serving as the core valuation anchor. Crucially, the transaction features a 15 percent greenshoe (over-allotment) option, providing structural flexibility to absorb heavy institutional, pension fund, and retail demand if the offer becomes significantly oversubscribed.
The primary proceeds harvested from the public float will be funneled directly into an ambitious expansion phase, with management setting its sights on doubling the facility's current throughput baseline to a staggering 1.4 million barrels per day.
Trading Floor Frenzy on the NGX
News of the locked-in timeline has triggered intense pre-offer positioning across the Nigerian Exchange Group (NGX). Financial experts note that a single listing of this magnitude stands to instantly reshape the domestic bourse, potentially driving a massive surge in market capitalization and drawing renewed foreign portfolio interest back into Nigerian equities.
With the countdown now down to days rather than months, institutional investors, asset managers, and retail market participants are rapidly positioning themselves ahead of the September 14 order book opening. As the Lekki-based mega-refinery transitions from a private industrial titan to a publicly traded powerhouse, all eyes remain locked on Lagos as history unfolds on the trading floor.
