Dangote Petroleum Refinery & Petrochemicals has introduced that its ongoing Initial Public Offering (IPO) has attracted participation from investors throughout Africa and all over the world.
An announcement by the corporate on Sunday stated subscriptions have been obtained from greater than 90 countries, together with investors from 51 of Africa’s 54 nations.
“The unprecedented level of participation positions the transaction as Africa’s first truly pan-African public offering, reflecting strong investor confidence in African-led industrialization and a growing desire among Africans to own strategic assets built on the continent,” it stated.
The firm famous that the IPO has already set new benchmarks within the capital markets, breaking the Nigerian market file on its opening day and surpassing the earlier African file inside its first ten days, pushed by strong demand from retail investors, pension funds, institutional investors, asset managers, and members of the investing public.
Commenting on the milestone, Chief Financial Officer of Dangote Group, Murat Erden, stated: “This offering represents far more than a capital-raising exercise. It is a landmark opportunity for Africans and global investors alike to participate in the ownership of one of the continent’s most transformative industrial assets. The extraordinary participation from individuals and institutions across Africa demonstrates a shared conviction that Africans should not only benefit from industrial development but also own and create wealth from it.”
The outstanding investor curiosity comes towards the backdrop of the refinery’s robust operational and monetary efficiency.
(*90*) the 9 months ended September 30, 2026, Dangote Petroleum Refinery reported income of US$22.5 billion and web revenue of US$4.7 billion, representing one of many strongest monetary performances recorded by an African industrial enterprise lately.
The outcomes marked a big turnaround from the corresponding interval in 2025, when the corporate recorded a lack of US$117.2 million. Revenue grew by 144 % from US$9.2 billion, whereas EBITDA elevated practically nine-fold to US$5.5 billion from US$627.6 million. Operating money circulation rose greater than ten-fold to US$3.68 billion, underscoring the refinery’s rising potential to generate substantial earnings and money circulation from its operations.
The firm additionally strengthened its steadiness sheet significantly, shifting from a web debt place of US$1.73 billion as of September 2025 to a web money place of US$651 million by September 2026, reflecting improved liquidity and monetary resilience.
According to Erden, the refinery’s present efficiency considerably exceeds the assumptions underpinning the IPO valuation.
“Our financial performance has already advanced well beyond the baseline assumptions used in determining the IPO valuation. The refinery’s operational momentum, scale and efficiency continue to create substantial shareholder value and reinforce our confidence in its long-term growth prospects.”
Dangote Petroleum Refinery described the IPO as a robust demonstration of the growing sophistication, depth and interconnectedness of African monetary markets, offering a blueprint for future continent-wide funding choices.
With the supply scheduled to shut on 27 October 2026, the corporate has intensified investor training and engagement actions throughout key markets to make sure broader inclusion and participation.
The refinery emphasised that no additional extension of the supply interval is at the moment deliberate.
Speaking on the importance of the transaction, Erden added: “We are witnessing the emergence of a new chapter in African industrial ownership and capital-market development. The overwhelming response from investors across 51 African countries and more than 90 countries globally is a resounding vote of confidence in Africa’s future and in the ability of world-class African enterprises to deliver sustainable value for shareholders.”
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