Dangote Refinery IPO: every key date from offer close to NGX listing

Buying the shares is only the first date that matters. Between paying and being able to sell, your application passes through collation, SEC approval of the allotment, refunds, CSCS crediting and finally listing. Here is the indicative schedule reported for the offer:

• 14 Sep 2026: offer opened.
• 13 Oct 2026: offer closes. Applications with full payment must be submitted before the window shuts.
• ~27 Oct 2026: registrars collate every application received across all channels.
• ~5 Nov 2026: the proposed Basis of Allotment — the rule deciding who gets how many shares — goes to the SEC for approval.
• ~11 Nov 2026: SEC no-objection expected; allotment results announced about a business day later.
• ~Mid-to-late Nov 2026: refunds for unallotted or rejected applications, roughly five business days after clearance, paid automatically through your application channel.
• ~Early Dec 2026: shares credited to CSCS accounts and trading begins on the NGX, about fifteen business days after allotment clearance.

Why the gap matters

From the October close to the December listing, your money is committed but your shares are not yet tradable. If you might need the cash before year-end, that lock-up period matters more than the offer price. Refunds for shares you were not allotted come back automatically — you do not need to chase anyone.

Dates can move

Every post-close date above is indicative. Regulatory steps sometimes take longer than planned, and the official Allotment Announcement after the window closes is the document that confirms the real timetable. Watch the issuer’s announcements rather than social media for changes.

Quick summary

• Offer closes 13 Oct 2026 — applications and payment must be in before then.
• Allotment runs through November, with SEC approval of the sharing formula.
• Refunds for unallotted shares are automatic, about five business days after clearance.
• NGX listing and trading targeted for early December 2026; money is locked until then.