Renaissance Capital Africa has extended the application deadline for the Dangote Kenya Unsponsored Inward Global Depositary Receipt (GDR).
In an announcement dated October 18, the company noted that the revised timeline aligns with the extension of the Dangote Refinery initial public offering (IPO) in Nigeria.
“The offer period for the Dangote Kenya Unsponsored Inward GDR Offer has been extended, providing eligible investors with additional time to submit their applications. The revised timeline aligns with the extension of the Dangote Refinery IPO in Nigeria,” Renaissance Capital Africa stated.
Under the offer terms, each GDR is priced at KSh53.50, and the minimum subscription is 10 GDRs, for a minimum investment of KSh535, excluding any applicable transaction fees or other charges, according to the company.
Earlier, Renaissance Capital Africa announced that the offer would close on October 13.
Following the two-week extension, eligible investors can apply for the GDR on offer until October 27, 2026.
Applications can be made through the Dangote GDR application portal or by dialing 483250#.
Alternatively, investors may also apply through an authorized selling agent participating in the offer.
According to the issuer, the applicants need a valid Central Depository and Settlement Corporation (CDSC) account to purchase shares.
Also Read: Dangote Shares Entry Cost Slashed to KSh535 Ahead of Deadline
Dangote Shares Entry Cost Reduced
On October 9, the GDR Issuer of the Dangote Kenya GDRs lowered the minimum investment from KSh107,000 to KSh535.
Despite the slashing of the minimum investment, the issuer maintained a minimum subscription price of KSh53.50 per receipt.
“Renaissance Capital, the GDR Issuer of the Dangote Kenya GDRs, today announced that the Minimum Subscription under the Offer has been reduced from 2,000 GDRs to 10 GDRs. With the GDR Subscription Price of KES 53.50 per GDR, the minimum application amount is equivalent to KES 535, payable in full on application,” Renaissance Capital stated.
CMA approved the GDRs, giving eligible investors access to the Nigerian refinery through Kenya’s capital markets on October 5, 2026.
However, the authority clarified that the GDRs intended to trade on the Nairobi Securities Exchange (NSE) will be subject to the required regulatory approvals.
Following investor feedback and approval from the Capital Markets Authority (CMA), the threshold was revised.
Also Read: Court Clears Path for Dangote’s Lamu Oil Refinery
Who Is Managing the Kenya GRD Offer
Renaissance Capital (Kenya) Limited serves as the GDR issuer and lead transaction adviser, working with Renaissance Capital Africa.
Stanbic Bank Kenya receives and holds funds under the offer’s custodial arrangements, while Image Registrars handles investor data processing and share registration.
On the other hand, the CMA approved the short-form prospectus for the transaction, and the NSE is the intended trading venue.
The Kenyan offer targets up to 728,971,962 GDRs, with an overall target value of approximately KSh39 billion.
Interested investors can make payment through M-Pesa and electronic funds transfer, in accordance with the GDR offer terms.
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