Dangote Petroleum Refinery and Petrochemicals has clarified that it has not announced any Initial Public Offering for its listing, warning the public against relying on speculative reports circulating across media and social platforms.
In a statement issued by its management, the company said it had observed the “recent circulation of unauthorised information across various media and social platforms regarding a potential Initial Public Offering.”
The firm stressed that the reports were not from it and should be treated with caution. “DPRP further notes that several online platforms and unofficial sources have published unverified, and in some instances, inaccurate information relating to a potential offering. Such reports do not originate from DPRP and should be treated with caution,” the refinery stated.
The refinery added that any decision regarding a possible listing would only be communicated through official channels and in compliance with regulatory requirements.
“All official updates regarding any potential transaction will be communicated strictly through DPRP’s formal public disclosures and announcements issued by its appointed advisers, in line with applicable laws and regulatory requirements,” the company said.
It advised investors and the public to ignore speculation and rely only on authorised information. “Accordingly, 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,” it added.
The company also emphasised that the communication did not constitute an offer of securities, saying, “This communication is for information 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 amid previous indications by the President of Dangote Group, Aliko Dangote, that the refinery could eventually be listed on the stock market.
In an earlier report, Dangote disclosed plans to list a portion of the refinery to attract investors and deepen participation. He said the company intended to sell a minority stake, noting, “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 previously expressed a broader commitment to listing companies within his conglomerate. Similarly, capital market stakeholders had earlier indicated that the refinery would be listed, with the Chairman of the Nigerian Exchange Group, Umaru Kwairanga, quoting Dangote as saying the refinery would be brought to the stock market.
The refinery’s latest clarification suggests that no official IPO process has been announced, urging stakeholders to await formal disclosures before drawing conclusions, even as a purported IPO document went viral on social media.
