The Dangote Petroleum Refinery Initial Public Offering (IPO) is now open to investors, giving Kenyans the chance to buy shares in the Nigerian oil refinery on their mobile phones.
Nigerian billionaire Aliko Dangote is offering about 3 percent of the refinery to the public in a share sale that could raise up to $2.1 billion (about KSh272 billion), making it Africa’s largest IPO.
The offer opened on September 14, 2026, and will remain open until October 13, 2026, giving investors nearly a month to apply.
For Kenyan investors, the minimum application is 10 shares, with each share priced at ₦525. This puts the minimum investment at about KSh550, based on the indicative exchange rate in the offer guide. Applications above the minimum must be made in multiples of 10 shares.
Kenyans can participate through MyStock Africa by opening an account, funding it in Kenyan shillings, converting the funds to US dollars, and selecting the Dangote IPO.
However, submitting an application does not guarantee that an investor will receive the full number of shares requested.
Also Read: Aliko Dangote’s Top 9 Investments in Africa and Where Lamu Refinery Will Rank
If the offer is oversubscribed, investors may receive a smaller allocation, and MyStock Africa will return any unused funds to their wallet.
Details About The Dangote IPO
Dangote plans to use the funds raised to finance the refinery’s expansion, including doubling its processing capacity to 1.4 million barrels per day over the next three years.
The group also plans to increase its ownership of the refinery and strengthen the company’s ability to raise funds from the capital markets in the future.
The company also benefited from disruptions linked to the conflict in the Middle East, which have helped it secure markets for its refined petroleum products in Africa and Europe.
According to the prospectus, the refinery posted a net profit of $1.82 billion in the first half of 2026, compared with a $476 million loss recorded for the full year in 2025. Revenue during the six-month period exceeded $13 billion.
To invest, a Kenyan investor needs to open an account on MyStock Africa and fund it in Kenyan shillings.
Also Read: Tanzania Billionaire Backs Dangote’s Planned Lamu Oil Refinery With KSh12.9 Billion
The funds are then converted to US dollars before the investor selects the Dangote IPO and reserves the number of shares they wish to purchase.
After submitting the application, the investor must wait for the share allocation. The funds remain in escrow during this period, meaning the reservation does not guarantee that the requested shares will be allocated.
If the offering is oversubscribed, an investor may receive fewer shares than requested. Any unused funds resulting from the lower allocation are returned to the investor’s wallet.
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