Dangote Petroleum Refinery and Petrochemicals FZE will widen its ownership base when its initial public offering opens for subscription on September 14, 2026, with Vetiva Advisory Services appointed as Lead Adviser. The SEC has approved the deal and Vetiva will coordinate the transaction among DPRP, other advisers and market institutions.
The offer will comprise an invitation to subscribe for up to 4.1 billion ordinary shares. Final details, including the issue price and the precise timetable for the sale, will appear in the SEC-registered Prospectus ahead of the subscription opening.
DPRP runs one of the world’s largest integrated refining and petrochemicals complexes. The facility has a refining throughput capacity of approximately 700,000 barrels per day and a polypropylene production capacity of approximately 830,000 tonnes per annum, figures that anchor the scale of the equity being offered.
Beyond widening the ownership mix, the IPO is intended to raise additional equity to support DPRP’s growth and strategic plans. An application has also been filed with the Nigerian Exchange Limited for the listing and admission of DPRP’s entire issued ordinary share capital to the NGX Daily Official List, a step that would put the company’s full share register onto Nigeria’s principal market.
Vetiva’s role as Lead Adviser will test its capacity to manage a transaction of significant scale and complexity, reinforcing the firm’s record in structuring major capital market deals in Nigeria. The mandate also highlights the bank’s stated focus on broadening investor participation and mobilising long-term capital for strategically important enterprises.
What follows is the publication of the Prospectus setting the offer terms, and the NGX decision on the listing application. Vetiva will lead the remaining advisory work through those milestones toward the planned September 14 subscription launch.
