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Dangote Petroleum Refinery opened its public offer on 14 September, putting 4.1 billion new ordinary shares on sale at ₦525 each. The offer would raise about ₦2.15tn if fully subscribed. Investors can apply for a minimum of ten shares, and the offer closes on 13 October.
Retail investment platforms struggled with the early traffic. Bamboo said visits rose to around ten times normal levels within 30 minutes of the offer opening, while users also reported difficulties accessing Cowrywise and InvestNaija. Neither Dangote nor the underwriters have released subscription figures, so the traffic shows interest but not how much of the offer has been taken up.
The refinery is the first petroleum refinery to be offered to investors through the Nigerian Exchange in its 66-year history.
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