Dangote Refinery IPO: Investors Rush for Shares as Subscription Closes Tuesday

Subscriptions for Dangote Refinery’s initial public offering surged less than 24 hours before they were due to close on Tuesday, October 27, 2026. The company confirmed that it would grant no further extension and urged investors to complete their subscriptions before the deadline. For the nine months ended September 30, 2026, the refinery reported revenue of $22.5 billion and net profit of $4.73 billion, while EBITDA reached $5.5 billion. The offer, which opened on the Nigerian stock market on September 14, has drawn investors from Nigeria, nearly 51 African countries and elsewhere around the world.