Dangote Refinery Share Offer Enters Final Day as Investors Face October 27 Deadline

The public share offer by Dangote Petroleum Refinery and Petrochemicals FZE is scheduled to close on Tuesday, October 27, giving prospective investors a final opportunity to submit applications before the deadline.

The offer, which opened on September 14, was initially scheduled to close on October 13. However, the closing date was extended by two weeks following approval from the Securities and Exchange Commission (SEC).

The extension was intended to give prospective investors more time to complete the processes required to participate in the offer, including account opening, identity verification and other regulatory procedures.

The company also said the additional time would support participation from investors across Africa and other eligible markets.

The offer comprises 4.1 billion ordinary shares priced at ₦525 per share. The minimum subscription is 10 shares, bringing the initial investment to ₦5,250 before any applicable charges.

Investors urged to complete applications before closing

With the deadline approaching, prospective investors need to confirm that their applications have been submitted through the designated channels and that they have met the relevant requirements.

The offer is available through the company’s official subscription portal and designated receiving agents. Investors are advised to consult the offer documents for the full application procedure, eligibility requirements and other terms.

The SEC has also cautioned investors to use authorised channels and avoid individuals or platforms claiming they can guarantee share allocations.

Prospective applicants should not transfer money to personal accounts or disclose sensitive banking details, including passwords, PINs and one-time passwords.

The deadline is particularly important for applicants who have not completed their registration or verification processes.

Starting an application does not necessarily mean the submission has been successfully completed.

What happens after the offer closes?

The closing of the application window will be followed by the processing of applications and the determination of the shares to be allotted to investors.

According to the revised timetable published by the company, the collation of returns is scheduled for November 3, while submission of the proposed basis of allotment to the SEC is scheduled for November 10.

The regulator’s no-objection to the proposed allotment is expected on November 17, subject to the published timetable and any subsequent changes.

The timetable also outlines the subsequent stages for publishing the allotment results, returning surplus or rejected application funds where applicable, crediting successful investors’ securities accounts and proceeding towards listing and trading.

These dates are indicative and may be subject to regulatory processes or other adjustments announced by the company.

Applicants should therefore rely on official notices for confirmation of allotment results and the timing of any refunds or securities account credits.

What prospective investors should know

The share offer provides eligible investors with an opportunity to apply for shares in the refinery company. However, participation in a public offer carries investment risks, and applicants should not assume that buying shares will automatically produce a profit.

The minimum subscription of ₦5,250 represents the cost of 10 shares at the offer price, excluding any applicable charges. Investors seeking a larger allocation should calculate the amount required based on the number of shares they intend to request.

Applicants should also understand that submitting an application does not automatically guarantee that they will receive the entire number of shares requested. The final allocation will depend on the applicable allotment process and the terms of the offer.

Before applying, investors should review the official offer documents, including the information on the company, the risks associated with the investment and the procedures for allotment and settlement.

The company has reported strong interest in the offer, but final subscription figures will be needed to establish the level of demand once the application period ends.

As the deadline approaches, prospective investors should verify the closing date, confirm their application status and use only officially designated subscription channels.

The offer is scheduled to close on Tuesday, October 27.