What is the expected fundraising range for Dangote Refinery's IPO, and how is it calculated?

The Dangote Refinery IPO is expected to raise between $1.55 billion and $1.8 billion, calculated from the sale of 4.1 billion shares at a price range of 500 naira ($0.3785) to 595 naira ($0.4504) per share, using the exchange rate of $1 = 1,320.9800 naira.

When does the order book for Dangote Refinery's IPO open, and what is the reported indicative offer price?

The order book for the IPO is set to open on September 14, and one source indicated that the price being considered is 525 naira per share.

Nigeria's Dangote Refinery IPO to Raise Between $1.55-1.8 Billion - Sources

Sep 4, 2026

Nigeria's Dangote Refinery plans an IPO selling 4.1 billion shares to raise $1.55-1.8 billion, with pricing set between 500-595 naira per share. The order book is scheduled to open on September 14.

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