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Tuesday, October 27, 2026Updated 20:57 UTC

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Investors From 119 Countries Pile Into Dangote’s Record Refinery IPO

Source: OilPrice.com · Oct 27, 2026 13:30 UTC

Wall Street in New York's Financial District with flags hanging from buildings — File photo Carol M. Highsmith / Library of Congress · Public domain · Source

The Quick Take

The initial public offering of Nigeria’s Dangote refinery has reached its target to raise $1.6 billion in funds from domestic and retail investors alone, sources with knowledge of the IPO process told Bloomberg on Tuesday. Demand from international investors is set to significantly exceed even the $2.1-billion target with a 30% over-allotment option, according to the sources. The Dangote refinery

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