Dangote Refinery IPO Opens with Stanbic IBTC as Joint Lead Issuing House

Stanbic IBTC Bank has officially opened its subscription channels for Dangote Petroleum Refinery and Petrochemicals FZE, marking a significant milestone in the company's initial public offering. The bank serves as the joint lead issuing house, stockbroker, and receiving bank for this transaction, ensuring that all investors can participate in the 4.1 billion ordinary shares being offered to the public. The offer runs from September 14 to October 13, 2026, and comprises 4.1 billion shares priced at N525 each, with a minimum subscription of 10 shares and additional purchases in multiples of 10. Existing Stanbic IBTC Bank customers can subscribe through the bank's mobile application, internet banking platform, or e-Subscription Portal, while other individual and corporate investors can submit their applications through the same portal. Prospective investors are advised to contact their Relationship Manager, Wealth Adviser, or Stockbroker for payment instructions, and the proceeds from the transaction will be used to fund growth capital expenditure for the refinery's expansion programme. The shares are expected to be listed on the Nigerian Exchange (NGX) Limited after the completion of

Stanbic IBTC also advised prospective investors to read the Frequently Asked Questions, Prospectus, and Abridged Particulars of the Prospectus before submitting their applications to ensure full transparency and clarity regarding the transaction details.