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Dangote Refinery Listing: Stanbic IBTC, Vetiva, and First Capital lead the NGX listing.
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Valuation & Dividends: 5–10% of $20B refinery to float; dividends may be paid in USD.
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Cement Expansion: Dangote Cement signs $1B deal with Sinoma to expand plants across Africa.
The Dangote Petroleum Refinery & Petrochemicals FZE has appointed Stanbic IBTC Capital, Vetiva Capital Management, and First Capital as lead issuing houses and advisers for its listing on the Nigerian Exchange (NGX).
The refinery plans to float 5–10% of its $20B asset base, with an estimated valuation of $40–50B.
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Investors can buy in naira and receive dividends in US dollars, subject to regulatory approval.
READ ALSO: Dangote to Offer Refinery Shares to Nigerians
The listing process includes SEC prospectus submission in April, e-IPO launch in May, and main board listing by June–July 2026.
Separately, Dangote Cement signed a $1B deal with Sinoma International Engineering to expand production across Africa, targeting 80 million tonnes per year by 2030, supported by upgraded gas supply arrangements with NNPC subsidiaries.
