Dangote Refinery IPO allotment and NGX listing

Dangote Petroleum Refinery and Petrochemicals is moving through the final stages of its initial public offering, with share allotment, crediting and the start of trading on the Nigerian Exchange (NGX) expected in November 2026. The exact day is not confirmed, and no crypto coins are directly tied to the event.

What is happening

Dangote opened its public share offer on September 14, 2026, offering 4.1 billion shares at NGN 525 each, with a minimum subscription of ten shares. Subscriptions closed on October 27, 2026. As of November 10, the official IPO website showed applications under review, with allotment, crediting of shares and the start of NGX trading listed as the following steps.

The company is targeting a valuation of roughly $40 billion, which could make the offering the largest IPO in Africa. The refinery in Lagos was built by Aliko Dangote at a reported cost of about $20 billion. It is described as the world's largest single-train oil refinery, with a crude distillation capacity of 700,000 barrels per day and a stated path to 1.4 million barrels per day. It began commercial operations in 2024.

The timing of allotment and the first day of NGX trading has not been specified in the sources, so the November window should be treated as tentative. Changes in the timetable or new disclosures are possible.

Why it matters

A listing on the NGX would give investors direct access to shares in one of Africa's biggest industrial projects and would produce a public market price for the company. The refinery supplies Nigeria's domestic fuel market and sells into export markets, so its performance depends on crude supply, operating costs, production reliability and fuel demand.

For crypto traders, the relevance is indirect. Bybit launched a DANGOTEUSDT Pre-IPO TradFi Perpetual on November 11, 2026, a USDT-settled derivative that tracks an estimated valuation of Dangote Group rather than giving ownership of shares. Its price reflects trading supply and demand and may differ from any eventual IPO or exchange share price. Leverage, funding costs and limited liquidity add further risk, and a later listing does not by itself convert a derivative position into equity. This is not financial advice.

Key details

• Date: November 2026 (month precision, tentative); exact allotment and NGX trading dates not specified
• Project: Dangote Petroleum Refinery and Petrochemicals
• Coins: none directly involved
• Category: Event
• Status: tentative
• Source: Bybit Learn - How to trade Dangote Pre-IPO on Bybit (https://www.bybit.com/en/learn/bybit-tradfi/how-to-trade-dangote-pre-ipo-on-bybit/)