One Offer, Multiple Channels — One Application!
The Dangote Petroleum Refinery and Petrochemicals FZE (“DPRP” or the “Enterprise”) Initial Public Offering of 4,100,000,000 Ordinary Shares of US$0.000013 each at N525.00 per share (the “Offer”) is now open. Here are the key details to keep in mind.
The Offer
The Issuer, Dangote Petroleum Refinery and Petrochemicals FZE (“DPRP” or the “Enterprise”), is offering its shares to the public at N525.00 per share, with a minimum investment of 10 units (N5,250) and subsequent units in multiples of 10.
Please see summary of the offer below:
Issuer: | Dangote Petroleum Refinery & Petrochemicals FZE |
Shares being Offered: | 4,100,000,000 ordinary shares of US$0.000013 each |
Offer Price: | ₦525.00 per Share |
Target Issue Size: | ₦2,152,500,000,000.00 (Two Trillion, One Hundred and Fifty-Two Billion, Five Hundred Million Naira) |
Minimum Subscription: | 10 Offer Shares and multiples of 10 Offer Shares thereafter |
Use of Proceeds: | The net proceeds will be applied towards the Issuer’s growth capital expenditure in connection with the Issuer’s refinery expansion programme, which is expected to increase the Refinery’s processing capacity to approximately 1.4 million barrels per day and to support the Issuer’s long-term growth strategy |
Mode of Offer: | Fixed Price |
Offer Payment Terms: | In full on application |
Retail Investor Incentive Programme: | Eligible retail investors may receive up to two (2) additional shares at no additional cost for maintaining the prescribed minimum shareholding for the applicable holding periods subject to obtaining requisite approvals |
Oversubscription: | In the event of an over-subscription, the Issuer may absorb up to 30% of the Offer subject to the approval of the SEC. |
Method of Offer: | By way of an Offer for Subscription |
Application Channel: | Retail Investors – Electronic Application Qualified Investors – Electronic Application or the Investor Application Form |
Indicative Offer Opening Date: | 14 September 2026 |
Indicative Offer Closing Date: | 13 October 2026 |
Listing Venue: | Main Board of the Nigerian Exchange Limited |
Status: | The ordinary shares being offered shall rank pari passu in all respects with the existing issued ordinary shares of the Issuer |
Shariah Compliance: | Based on an independent Shari’ah assessment and applicable Shari’ah screening criteria, the ordinary shares being offered have been determined to be Shari’ah-compliant |
Please view the full offer prospectus here
Multiple Channels, One Application
The Issuer has envisioned a retail offer delivered through digital platforms with a simplified flow that makes it easy for everyone to participate. Multiple application channels are therefore available through Financial Intermediaries (Banks, Fintechs, Receiving Agents, etc.).
However, each applicant may submit only one application. Multiple applications may be rejected.
What Does This Mean Practically?
Bank Verification Number (BVN) is mandatory for the validation of applications. Therefore, across all channels, BVN will serve as the unique identifier for investors.
The use of digital platforms supports additional unit purchases within the offer period. However, investors cannot submit multiple applications through different financial intermediaries, as all additional applications will be treated as subscriptions for additional units and collated under the financial intermediary through which the first purchase was executed.
Choosing the Solution for You
When selecting a channel for your application, an important consideration is the management of your shareholding/investment portfolio post-allotment and lodgment.
Select Parthian Securities Limited, broker code PSLC, as your preferred broker if subscribing through the NGX Invest platform or any platform that supports the selection of your preferred broker.
Alternatively, to ensure your Public Offer units are domiciled with Parthian Securities, submit your application through our digital distribution channels: I-Invest (https://www.i-investng.com/) and/or the PSL Offers Site (https://offers.parthiansecuritiesng.com/).
