Susan Abayomi
Stanbic IBTC Holdings Plc has further strengthened its posihttps://picnews.com.ng/2026/09/10/reportsss/tion in Nigeria’s capital market through its role in the Initial Public Offering (IPO) of Dangote Petroleum Refinery & Petrochemicals FZE.
Through its subsidiaries, Stanbic IBTC is serving as Joint Lead Issuing House, Joint Stockbroker and Receiving Bank for the transaction, bringing together its capabilities in financial advisory, transaction execution, distribution and investor access.
The IPO is regarded as a major transaction for Nigeria’s capital market and will provide investors with an opportunity to participate in the growth of one of Africa’s largest integrated refining and petrochemical businesses.
Speaking at the official signing ceremony in Lagos, Chief Executive of Stanbic IBTC Bank, Wole Adeniyi, described the transaction as a significant milestone for Nigeria’s capital market.
According to Adeniyi, the IPO reflects the increasing depth and sophistication of the Nigerian capital market while demonstrating the ability of financial institutions to facilitate large-scale transactions that support economic development.
The Dangote Refinery IPO is expected to raise about ₦2.15 trillion through the offer of 4.1 billion shares at ₦525 per share. The public offer is scheduled to open on September 14 and close on October 13, 2026, with the company expected to list on the Nigerian Exchange later in the year.
The transaction is expected to broaden participation in the ownership of the refinery by giving retail and institutional investors access to shares in the business.
The refinery, which began operations in 2024, currently has a processing capacity of about 700,000 barrels per day. Dangote Industries has announced plans to expand the facility’s capacity to 1.4 million barrels per day by 2029, with the proceeds from the IPO expected to support further expansion and related investments.
Stanbic IBTC’s participation highlights the breadth of its capital markets capabilities, particularly its ability to support major equity transactions from structuring and issuance through to distribution and investor participation.
The Group’s involvement also builds on its earlier appointment, alongside Vetiva Capital Management and FirstCap, to advise on and lead the planned refinery listing.
The Dangote Refinery IPO comes at a significant time for Nigeria’s capital market, as efforts continue to deepen domestic investment and provide Nigerians with greater opportunities to participate in major businesses and economic projects.
With Stanbic IBTC playing multiple roles in the transaction, the Group is positioned to support the offer through its investment banking, stockbroking and banking platforms, while helping facilitate access for eligible investors.
The transaction further demonstrates the growing role of Nigeria’s capital market in mobilising long-term funding for major industrial projects and expanding opportunities for investment in strategic sectors of the economy.
