Dangote Refinery Launches $1bn Private Placement at $39bn Valuation

Dangote Petroleum Refinery is raising about $1 billion through a private share placement. It plans to issue 3 billion shares at $0.35 each, valuing the company at roughly $39.1 billion. Investor interest is strong and the offer may be oversubscribed. Applicants must subscribe for at least 1 million shares, a $350,000 investment. Additional lots are in 500,000-share increments. All shares will be subject to a 365-day lock-up period. Proceeds will fund ongoing expansion and general corporate needs. The refinery processes up to 650,000 barrels per day and began production in 2024. Its product lines include diesel, aviation fuel, naphtha and petrol. Observers say this move could broaden the shareholder base ahead of a future listing. It also highlights the refinery’s role in reducing import dependence and boosting regional exports.

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