Vetiva Advisory Services Limited has emerged as the Lead Adviser to the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals FZE, in what is set to become one of the most significant capital market transactions in Nigeria.
The IPO, which has received the approval of the Securities and Exchange Commission, is scheduled to open for subscription on September 14, 2026.
The Offer comprises up to 4.1 billion ordinary shares of Dangote Petroleum Refinery and Petrochemicals, with the issue price and other final terms to be contained in the SEC-registered Prospectus.
As Lead Adviser, Vetiva Advisory Services is coordinating the transaction and working with the refinery, other professional advisers and relevant market institutions to facilitate the execution of the landmark offer.
The transaction is designed to broaden the ownership base of the refinery while raising additional equity capital to support its expansion and strategic objectives.
An application has also been submitted to the Nigerian Exchange Limited for the listing and admission of the refinery’s entire issued ordinary share capital to the Daily Official List.
The Dangote refinery operates one of the world’s largest integrated refining and petrochemical complexes, with a refining capacity of approximately 700,000 barrels per day and polypropylene production capacity of about 830,000 tonnes annually.
The planned listing represents a major development for Nigeria’s capital market, potentially bringing one of the country’s most strategically important industrial assets into the public market and providing investors with an opportunity to participate in its growth.
For Vetiva, the appointment further strengthens its investment banking franchise and track record in structuring and executing major capital market transactions.
The firm said its role also underscores its commitment to deepening Nigeria’s capital markets, widening investor participation and mobilising long-term capital for strategically important businesses.