Investors are rushing to acquire shares in Dangote Refinery as the company's Initial Public Offering, IPO, closes on Tuesday, 27th October 2026.
DAILY POST reports that the refinery recorded a sharp surge in subscriptions barely 24 hours before the IPO deadline, a development the company confirmed in a statement on Sunday.
“This is the final deadline, and no further extension will be granted. Investors wishing to participate must complete their subscriptions before the offer closes,” Dangote Refinery stated.
Recall that Dangote Refinery recently reported an increase in revenue and profit.
The company, described as Africa's largest oil refinery, recorded revenue of $22.5 billion and a net profit of $4.73 billion for the nine months ended September 30, 2026.
Similarly, the company's revenue grew by 14 per cent year-on-year, while earnings before interest, taxes, depreciation and amortisation, EBITDA, rose to $5.5 billion.
Nearly two weeks ago, the company extended the IPO deadline by two weeks to allow more investors to participate in the share offering.
DAILY POST reports that since the IPO opened on the Nigerian stock market on September 14, 2026, it has attracted investors from Nigeria, nearly 51 African countries and other parts of the world.
Dangote Refinery IPO: Investors rush for shares as subscription closes Tuesday