Dangote Petroleum Refinery and Petrochemicals FZE has extended the application period for its initial public offering (IPO) by two weeks, giving investors until October 27, 2026, to apply for shares.
In a notice to investors on October 12, the refinery said the additional time would support efforts to expand access to the offer across African markets and other jurisdictions.
“Further to the receipt of the approval of the Securities and Exchange Commission, Dangote Petroleum Refinery and Petrochemicals FZE (the “Issuer”) wishes to inform the investing public that the Offer period for the IPO, which opened on Monday, 14 September 2026, has been extended from Tuesday, 13 October 2026 to close on Tuesday, 27 October 2026,” read part of the statement.
The offer opened on September 14 and was initially scheduled to close on Tuesday, October 13.
Dangote Refinery Opens More Time for Investors Across Africa
The company said it was expanding distribution channels and implementing depositary receipt programmes to facilitate cross-border investment. The extension would also allow prospective investors more time to complete account opening, identity verification and other regulatory requirements.
Managing Director and Chief Executive Officer of Dangote Petroleum Refinery and Petrochemicals, David Bird, said the extension would give more investors across Africa an opportunity to participate in the share sale.
The IPO involves 4.1 billion ordinary shares priced at N525 each, with the company seeking to broaden investor participation across the continent.
Under the revised timetable, the application list will close on October 27, and the company will collate returns on November 3.
The company will submit the basis of allotment proposal and draft allotment announcement to the SEC on November 10.
Additionally, the company expects to obtain the regulator’s no-objection to the basis of allotment on November 17.
Subsequent activities, including the publication of the allotment announcement, refund of surplus or rejected application monies, settlement and listing, will follow the revised schedule.
The refinery noted that the dates are indicative and may change depending on the progress of key activities, with any adjustments to be made by the issuing houses in consultation with the company.
Also Read: Dangote Shares Entry Cost Slashed to KSh535 Ahead of Deadline
How Kenyans Can Buy Shares
- Open a CDSC Account
- Ensure you have an active Central Depository and Settlement Corporation (CDSC) account.
- If you don’t have one, register through a licensed stockbroker or the registration process on the application platform.
- Choose an Application Channel
You can apply through either of the following channels:
- Online portal: Visit the Dangote GDR Application Portal and register your details.
- USSD: Dial *483*250# on your mobile phone and follow the prompts.
- Select the Number of GDRs to Buy
- Enter the quantity of Global Depositary Receipts (GDRs) you wish to purchase.
- Price: Ksh53.50 per GDR.
- Minimum purchase: 10 GDRs, costing Ksh535 before applicable fees.
Also Read: CMA Names Firms Helping Kenyans Invest In Dangote Refinery IPO
- Make Your Payment
- Pay in Kenyan shillings using the approved payment methods available on the application platform, such as M-Pesa or supported bank transfer options.
- Confirm the amount and transaction details before completing the payment.
- Keep Your Receipt and Await Allotment
- Save your application reference number and electronic payment receipt.
- Wait for the allotment process to determine the number of GDRs allocated to you.
- Renaissance Capital Kenya will coordinate local applications, with the underlying shares held under custodial arrangements through Stanbic Bank.
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