The Dangote Refinery IPO has triggered a surge in investor activity across digital investment platforms, with Bamboo and Cowrywise recording unusually high traffic as investors move quickly to participate in the highly anticipated share offering. The rush followed the official opening of the initial public offering on the Nigerian Exchange (NGX) on Monday.
Bamboo acknowledged that the sudden increase in traffic affected access to its platform, leaving some users unable to log into the app. The investment platform said the number of people trying to access the Dangote IPO was significantly higher than expected and assured customers that its team was working to resolve the issue. The development highlights the intense interest generated by the refinery’s entry into the public market.
Cowrywise also reported experiencing heavier-than-usual traffic on its platform, although it did not directly attribute the increase to the Dangote Refinery IPO. The company said its team was working to restore normal service, asking users for patience as it managed the surge in activity.
The heightened demand reflects growing interest among Nigerian retail investors seeking exposure to Dangote Refinery through digital investment platforms. The company is offering 4.1 billion ordinary shares at N525 per share, with a minimum subscription of 10 shares, meaning investors can participate with as little as N5,250.
If fully subscribed, the Dangote Refinery IPO is expected to raise approximately N2.15 trillion ($1.6 billion), potentially making it one of the largest public offerings in Nigeria and Africa. The offer will remain open until October 13, 2026, with the shares expected to be listed on the NGX after the subscription period closes.
source: The cable
