Dangote Petroleum Refinery & Petrochemicals FZE has introduced an incentive aimed at encouraging more retail investors to participate in its highly anticipated public offer. Under the programme, eligible investors will receive one additional share for every 10 shares held continuously for 12 months, with the opportunity to earn up to two extra shares over the first two years after the refinery is listed.
Chuka Eseka, Group Managing Director and Chief Executive Officer of Vetiva Capital Management, the parent company of the lead issuing house, disclosed the incentive while speaking about the refinery’s public offer on Monday. He explained that investors must subscribe for at least 10 shares through the public offer and maintain their holdings for 12 months to qualify for the first bonus share. Holding the shares for another 12 months would earn investors a second additional share.
The Dangote Refinery public offer opened on Monday as part of a $1.6 billion capital-raising exercise, with the company offering 4.1 billion ordinary shares at ₦525 per share. The offer is scheduled to close on October 13, 2026, and investors can participate through digital investment platforms or traditional stockbrokers.
However, the incentive comes with an important condition: investors who buy Dangote Refinery shares on the secondary market after the company is listed will not qualify for the additional shares. The programme is specifically designed for eligible investors who subscribe through the public offer and continue to hold their shares, making it a reward for long-term participation rather than short-term trading.
The funds raised will support the refinery’s expansion plans, including increasing its production capacity from 700,000 barrels per day to 1.4 million barrels per day, as well as developing additional petrochemical units. The offer has also been certified Sharia-compliant following an independent assessment, potentially widening access to investors and funds seeking ethical or Sharia-compliant investment opportunities.
source: Premiumtime
