DANGOTE REFINERY DENIES LISTING CLAIMS, WARNS PUBLIC
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By: Balogun Ibrahim
Dangote Petroleum Refinery and Petrochemicals has clarified that it has not announced any Initial Public Offering (IPO) and cautioned the public against relying on speculative reports circulating on media and social platforms.
In a statement from its management, the company addressed the “recent circulation of unauthorised information across various media and social platforms regarding a potential Initial Public Offering.”
The refinery emphasized that these reports were not issued by the company and should be treated with caution. “DPRP notes that several online platforms and unofficial sources have published unverified—and in some cases inaccurate—information about a potential offering. Such reports do not originate from DPRP and should be treated with caution,” the statement read.
It added that any decision regarding a possible listing would be communicated only through official channels and in compliance with regulatory requirements.
“All official updates regarding any potential transaction will be communicated exclusively through DPRP’s formal public disclosures and announcements issued by its appointed advisers, in accordance with applicable laws and regulatory requirements,” the company stated.
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It urged investors and the public to ignore speculation and rely only on authorised information. “The public, investors, and all market participants are strongly advised to disregard speculative commentary and rely solely on verified information formally issued by DPRP or its authorised representatives,” the statement added.
The company also clarified that the statement does not represent an offer of securities, noting, “This communication is for informational purposes only and does not constitute, or form part of, an offer to sell or a solicitation of an offer to buy any securities.”
The clarification comes following earlier statements by Aliko Dangote, President of Dangote Group, indicating that the refinery could eventually be listed on the stock market.
Previously, Dangote revealed plans to sell a portion of the refinery to attract investors and deepen market participation. He noted, “We don’t want to keep more than 65 to 70 per cent. Shares will be offered incrementally, depending on investor appetite and market depth.”
Dangote had also highlighted a broader commitment to listing other companies within his conglomerate. Capital market stakeholders had similarly suggested the refinery would be listed, with the Chairman of the Nigerian Exchange Group, Umaru Kwairanga, citing Dangote’s intention to bring the refinery to the stock market.
The refinery’s latest statement clarifies that no official IPO has been announced and urges stakeholders to await formal disclosures before drawing conclusions, amid circulation of a purported IPO document on social media.
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