Dangote Petroleum Refinery and Petrochemicals FZE has extended its Initial Public Offering (IPO) application period by two weeks to October 27, 2026, following approval from the Securities and Exchange Commission (SEC).

The offer, which opened on September 14, comprises 4.1 billion ordinary shares priced at ₦525 each.

The company said the extension followed strong investor interest across Africa and international markets, adding that it would allow more investors to complete account opening, identity verification and other regulatory requirements.

President of Dangote Group, Aliko Dangote, said subscriptions had exceeded the amount the company initially intended to raise by more than three to four times, stressing that the extension was aimed at widening participation rather than raising additional funds.

He said the company was working with the Nairobi Securities Exchange and other African exchanges to facilitate cross-border investment and enable more Africans to participate in the offer.

Managing Director and Chief Executive Officer of Dangote Petroleum Refinery and Petrochemicals, David Bird, said the extension would give more retail, institutional and international investors the opportunity to participate in the company’s future growth.

The company added that it was expanding distribution channels and introducing depository receipt programmes to ease investment across African markets.