The Dangote Petroleum Refinery Global Depository Receipts (GDR) offer opened on 6 October 2026 and will close on 13 October 2026 at 5:00 pm East African Time.

A revised minimum subscription of KSh 535 – equivalent to ten GDRs priced at KSh 53.50 each – was approved by the Capital Markets Authority, lowering the entry point from the original 2,000 GDRs.

The total issue size is valued at KSh 39 billion and covers up to 728,971,962 GDRs, each representing one underlying share in Dangote Petroleum Refinery and Petrochemicals FZE, the Nigerian billionaire’s company.

Eligibility requires a valid Central Depository and Settlement Corporation (CDSC) account, which can be opened through a licensed broker or Central Depository Agent for individuals, institutions and qualified institutional investors.

Applications may be submitted via three channels: dialing *483*250# on USSD, using the online portal at https://dangotegdr.e-offer.app/, or through an authorised selling agent or licensed broker.

Payments must be made in full in Kenyan shillings; M‑Pay (M‑Pesa) is accepted for USSD submissions, while electronic funds transfer or bank transfer can be used for online applications.

If the offer reaches the required threshold of KSh 50 million in applications and underlying share allocations, the GDRs are expected to list on the NSE around 8 December 2026, subject to regulatory clearance.

Allocated GDRs will be credited to investors’ CDSC accounts and become tradable on the secondary market through licensed brokers; holders will also receive dividends converted to Kenyan shillings after applicable Nigerian (10 %) and Kenyan withholding taxes.

The Capital Markets Authority stresses that its approval does not constitute a recommendation, noting risks such as currency fluctuations, limited liquidity and the possibility that Nigerian regulators may not grant clearance, which could prevent issuance or listing.