Kenyan investors can now apply for Dangote Petroleum Refinery and Petrochemicals shares with a minimum investment of KSh535 after the company reduced the minimum subscription for its Global Depository Receipts (GDRs) from 2,000 receipts to 10.
Renaissance Capital, the GDR issuer, announced the change on October 9, lowering the minimum investment from KSh107,000 to KSh535 while keeping the subscription price at 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.
The revised threshold follows investor feedback, strong market demand, and approval from the Capital Markets Authority (CMA).
However, the issuer has clarified that applicants must pay the full subscription amount when applying.
The offer opened on October 6 and is scheduled to close at 5 pm on Tuesday, October 13, 2026.
How to Apply for Dangote GDRs
To apply, the applicant will be required to confirm their CDSC account, choose an application method, select the number of GDRs to buy, pay for the application, and submit before the deadline.
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.
“Eligible investors holding a valid CDSC Account may apply through the USSD code *483*250#, the e-portal at https://dangotegdr.e-offer.app/, or through an Authorized Selling Agent,” Renaissance directs.
According to the company, investors seeking to participate in the offer must meet the application conditions set out in the amended information memorandum dated October 9, 2026.
Also Read: CMA Names Firms Helping Kenyans Invest In Dangote Refinery IPO
What Kenyan Investors Are Buying
A Global Depository Receipt is a certificate representing shares in a company listed in another country, according to Renaissance Capital.
GDRs let investors access foreign shares through a local market without buying directly on the foreign exchange.
In the offer, each GDR represents one underlying share in Dangote Petroleum Refinery and Petrochemicals FZE, the Nigerian company owned by billionaire industrialist Aliko Dangote.
The underlying shares will be held through custody arrangements in Nigeria as the GDRs are intended to trade on the Nairobi Securities Exchange in Kenyan shillings, subject to required regulatory approvals.
However, the offer is not an investment in the separate Dangote East African Refinery project planned for Lamu County.
The CMA has expressly clarified that the IPO relates to the Nigerian refinery.
Also Read: Bamburi Makes Move for Major Dangote Lamu Refinery Supply Deal
Risks Investors Should Consider
The CMA cautioned that approving the offer is not a recommendation to invest and advised prospective investors to read the prospectus and seek independent professional advice.
Investors should consider potential price fluctuations, trading liquidity, charges, and applicable taxes before applying.
The proposed NSE listing is also subject to the relevant approval or no-objection from Nigeria’s Securities and Exchange Commission.
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