FOR IMMEDIATE RELEASE | Kinshasa, Democratic Republic of Congo
XTRM Group welcomes the launch of the Dangote Petroleum Refinery & Petrochemicals IPO, a landmark transaction that is set to become Africa’s largest-ever initial public offering, with 4.1 billion ordinary shares offered at ₦525 per share, targeting approximately ₦2.15 trillion (about US$1.6 billion) in capital and valuing the refinery at roughly US$47.6 billion. Built over a decade at an investment of approximately US$20 billion, the Lagos-based refinery is currently operating at up to 700,000 barrels per day, and the IPO is designed to support its planned expansion toward 1.4 million barrels per day, while broadening public participation in one of Africa’s most significant industrial enterprises; with a minimum subscription of only 10 shares, the offering also represents an important step toward expanding retail investment and financial-market participation across Africa.
Beyond its scale as a capital-markets transaction, the IPO demonstrates the growing capacity of African entrepreneurs and institutions to mobilize African capital for African industrial development, strengthen energy security, reduce dependence on imported refined petroleum products, expand regional supply chains, and finance large-scale infrastructure and manufacturing; as the Dangote Group looks beyond Nigeria toward further continental expansion, including planned investments in Kenya, this historic transaction is helping reshape perceptions of Africa’s investment potential and demonstrating how African-owned capital, enterprise, innovation, and ambition can contribute to a more self-reliant, interconnected, prosperous, and economically powerful continent—opening the way for a brighter Africa and encouraging investors, businesses, entrepreneurs, and strategic partners to look boldly toward the continent’s growing opportunities.
ABOUT US
Based in the Democratic Republic of Congo, XTRM Group is a Strategic Advisory, Investment and Business Services firm dedicated to helping you navigate growth and opportunities across the Congolese and African markets. Through a client-centric and multidisciplinary approach spanning Advisory, Investments, Properties, and Mobility, the firm helps clients transform complex challenges into scalable opportunities for growth and long-term success; represented by Mr. David Muanda as Managing Partner.
For partnership or advisory inquiries: hello@xtrm.group