KEY POINTS
- Dangote Refinery denied reports claiming it is planning an IPO, describing them as unofficial and inaccurate.
- The company said any listing decision would be communicated only through formal regulatory disclosures.
- The clarification follows earlier comments suggesting a possible future sale of minority shares to investors.
Dangote Petroleum Refinery and Petrochemicals has dismissed reports suggesting it is planning an Initial Public Offering, stating that the information currently circulating in the media and across social platforms is unauthorised and inaccurate.
In a statement released on Friday, the company expressed concern over what it described as the spread of unofficial and unverified claims regarding a potential IPO. It stressed that such reports did not originate from the refinery and advised the public to treat them with caution.
The company added that any official update about a possible transaction would only be communicated through its formal disclosure channels and through announcements issued by its appointed advisers, in line with regulatory requirements.
The clarification comes amid earlier remarks by the President of Dangote Group, Aliko Dangote, who had previously indicated that the refinery could eventually be listed on the stock market.
He had said the company was considering selling a minority stake to attract investors and deepen market participation.
The Group Planned to Retain About 65 – 70% Ownership
According to the earlier disclosure, the group planned to retain about 65 to 70 percent ownership, while offering shares gradually depending on investor appetite and market conditions. Capital market stakeholders had also previously suggested that the refinery would be listed, citing comments attributed to Dangote.
However, in its latest statement, the refinery urged investors, market participants, and the general public to disregard speculative commentary and rely only on verified information issued through authorised channels.
The company reaffirmed its commitment to transparency, corporate governance, and market integrity, while encouraging analysts and commentators to rely solely on authenticated information. It also assured stakeholders that when appropriate, comprehensive details about any proposed transaction would be released through official regulatory filings, press statements, and coordinated communications.
Dangote Refinery further clarified that the communication was strictly for informational purposes and did not constitute an offer to sell or a solicitation to buy securities. It noted that any such offer, if made, would be based on duly authorised documentation and carried out in compliance with applicable laws and regulations.
