Dangote Refinery IPO Extended to 27 Oct: Dates and Timeline
The Dangote Refinery IPO now closes on 27 October 2026, not 13 October, after an SEC-approved extension. Revised expected dates for allotment, refunds, CSCS crediting and NGX trading.
The Dangote Refinery IPO now closes on 27 October 2026, not 13 October. It opened on 14 September 2026, and on 12 October the company announced a two-week extension with SEC approval to widen access across African markets and give investors more time for account opening, identity verification and other regulatory requirements. The ₦525 price, 10-share minimum and other offer terms are unchanged. Dates after the close in the revised timetable are expected dates and can change.
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Key Dates (Last Updated 13 October 2026)
- Offer opened: 14 September 2026
- Application list closes: 27 October 2026 after an SEC-approved extension. Brokers and receiving agents may stop taking applications a few days earlier.
- Collation of returns: expected 3 November 2026
- Basis of allotment proposal and draft allotment announcement sent to the SEC: expected 10 November 2026
- SEC no-objection to the basis of allotment (the allotment date): expected 17 November 2026
- Allotment announcement and transfer of net proceeds: expected one business day after the allotment date
- Refunds of surplus or rejected application money: expected within five business days after allotment
- Crediting of CSCS accounts and start of trading on the NGX: expected 15 business days after the allotment date
Source: company announcement of 12 October 2026, approved by the SEC; revised timetable as reported. Dates after the close are expected dates and can change.
The revised timetable was reported by Nigerian Tribune on 12 October 2026 and ThisDay on 13 October 2026. The official offer website, ipo.dangote.com, had not shown the new close date when checked. The extension is based on the company announcement with SEC approval; later issuer and NGX notices can update the expected dates.
Nigerian, with a BVN, a Nigerian bank account, proof of address and a Nigerian passport or NIN? Apply through the normal Shares Saver purchase flow. Your order shows as pending until allotment.
Buy SharesThe Offer Period After the Extension
- Offer opens: 14 September 2026
- Offer closes: 27 October 2026 after an SEC-approved extension announced on 12 October 2026
Source: company announcement of 12 October 2026, approved by the SEC; revised timetable as reported. Dates after the close are expected dates and can change.
The extended offer period is just over six weeks. An application is only valid if it has been lodged, with full payment, through a licensed broker or a receiving agent named in the prospectus before the offer closes.
Why Your Broker's Deadline May Be Earlier Than 27 October
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The application list closes on 27 October 2026. Brokers and receiving agents may stop taking applications a few days before that date, for practical reasons:
- New clients have to pass identity checks using their BVN and NIN before a broker can act for them.
- A CSCS account and Clearing House Number (CHN) have to be opened for anyone who does not already have one, and the application needs those details.
- Payment has to arrive and be matched to the right application. Bank transfers can be delayed or sent with the wrong reference.
- The broker has to compile its applications and submit them, with the money, before the offer closes.
Nigerians abroad who still need a full BVN or a Nigerian bank account have more steps to complete, and each depends on the one before. A Non-Resident BVN cannot be used to buy shares for now. Ask your broker for its cut-off in writing at the start.
The company announced the SEC-approved extension on 12 October 2026. Applications remain open until 27 October 2026, subject to brokers' and receiving agents' earlier cut-offs. The official offer website had not shown the new date when checked.
What Happens After the Offer Closes
The steps below explain the process behind the revised timetable. Collation of returns is expected on 3 November 2026, the allotment proposal and draft announcement are expected to go to the SEC on 10 November, and SEC no-objection is expected on 17 November. These dates depend on regulatory clearance and can change.
- The offer closes. No new applications are accepted.
- Receiving agents make their returns. Every broker, bank and issuing house that took in applications sends the forms, the schedules and the money to the issuing houses and the registrar.
- The registrar processes applications. Duplicates, incomplete forms and unpaid applications are identified, and the total demand is counted.
- The basis of allotment is prepared and sent to the SEC. The issuer and the issuing houses propose how shares will be shared out, and the SEC has to clear the proposal before anything is allotted.
- The allotment is announced. Once cleared, the result is published and applicants learn how many shares they have been allotted.
- Refunds are paid. Money for applications that were rejected, or for shares applied for but not allotted, is returned to the bank account given on the application.
- CSCS accounts are credited. The registrar lodges the allotted shares with the Central Securities Clearing System (CSCS), and they appear under each investor's CHN.
- The shares list on the NGX. Trading begins on the Main Board on the listing date announced by the exchange.
What Each Step Means for an Applicant
Between the close and the allotment
Your money is held in the offer proceeds account and you own no shares yet. There is nothing to do in this period except keep your proof of payment and the acknowledgement from your broker. No one can tell you your allotment before the SEC has cleared it.
When the allotment is announced
You may be allotted everything you applied for or fewer shares. Allotment is not certain: if valid applications exceed the 4.1 billion shares on offer, applications are scaled back under the cleared basis of allotment.
When refunds are paid
Any refund goes to the bank account on your application. This is why the account details on the form have to be correct and in your own name.
When the CSCS account is credited
The shares become visible in your CSCS account under your CHN. From that point you hold them in your own name, even though trading has not yet begun.
On and after the listing date
The shares can be bought and sold on the NGX during trading hours, 9:00 to 16:00 WAT. The price is then set by the market and can be above or below the ₦525 offer price. Trades settle on T+1, one business day after the trade.
Where the Official Dates Are Published
- The company announcement of the SEC-approved extension on 12 October 2026 and revised timetable as reported by Nigerian Tribune and ThisDay
- The indicative timetable in the prospectus, on ipo.dangote.com
- Announcements on the official offer website during and after the offer
- Notices published by the NGX, including the listing notice for a new security
- Your broker, which passes on allotment and listing news to its clients
Dates shared on social media that cannot be traced to one of those sources are guesses.
Nigerian, with a BVN, a Nigerian bank account, proof of address and a Nigerian passport or NIN? Apply through the normal Shares Saver purchase flow. Your order shows as pending until allotment.
Buy SharesFrequently Asked Questions
When does the Dangote Refinery IPO close?
On 27 October 2026 after an SEC-approved extension announced by the company on 12 October. Brokers and receiving agents may stop taking applications a few days before the official close.
When did the Dangote Refinery IPO open?
On 14 September 2026, after the SEC approved the offer earlier that month.
When will Dangote Refinery shares start trading on the NGX?
The revised timetable expects CSCS accounts to be credited and NGX trading to start 15 business days after the allotment date, which is expected on 17 November 2026. This is an expected timetable, subject to change; the NGX listing notice confirms the trading date.
Can I apply on the last day?
Only if your broker or receiving agent is still accepting applications that day and your payment arrives in time. Many will have stopped earlier, and a new client who still needs a CSCS account is unlikely to be set up within a day.
Has the offer been extended?
Yes. On 12 October 2026 the company announced an SEC-approved two-week extension to 27 October 2026. The reason was wider access across African markets and more time to complete account opening, identity verification and regulatory requirements. The official offer website had not shown the revised date when checked.
How long after the close do refunds and shares arrive?
The revised timetable expects the allotment announcement and transfer of net proceeds one business day after allotment, refunds within five business days after allotment, and CSCS crediting and NGX trading 15 business days after allotment. The allotment date is expected on 17 November 2026. These expected dates can change.
Important disclaimer. This article is for general information and educational purposes only. It does not constitute financial advice, investment advice, or any recommendation to buy, sell, or hold any security. The value of investments can fall as well as rise. You should seek independent regulated financial advice before making any investment decision. Shares Saver does not provide financial advice.
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