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Renaissance Capital raises Dangote Refinery valuation to N700.41 per share

Unverified — auto-generated summary, not yet reviewedStartups, VC & FundingNigeriaOct 18, 2026

Renaissance Capital has raised its valuation of the Dangote Refinery to N700.41 per share, signalling analyst confidence in Nigeria's energy equity market ahead of the ongoing IPO process. The upgrade comes as the refinery's $1.6 billion offering continues its expanded pan-African investor outreach.

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Renaissance Capital raises Dangote Refinery valuation to N700.41 per share · nairametrics.com · T2

Story timeline · 17 entries

Oct 18, 2026This story
Dangote Refinery Gets Valuation Upgrade
Renaissance Capital issues a revised per-share valuation of N700.41 for Dangote Refinery as the IPO investor outreach continues.
Oct 17, 2026
Dangote IPO Goes Pan-African
NGX markets Dangote refinery IPO to investors in three African countries, extending the pan-African retail capital mobilisation push beyond Egypt.
Oct 16, 2026
Dangote IPO Eyes Egypt Capital
Dangote IPO subscription outreach expands to Egyptian investors as the $1.6 billion offering continues its pan-African capital markets push
Oct 15, 2026
Dangote IPO Deadline Extended Again
Dangote IPO subscription deadline extended further per African market reports, with demand signals continuing to be tracked
Oct 14, 2026✦ Take
Dangote IPO Extended, Profit Confirmed
Refinery confirms $4.7bn net profit and $5.5bn EBITDA alongside the extended IPO subscription deadline
Oct 13, 2026
Dangote IPO Deadline Extended Again
IPO subscription deadline is extended to October 27 as the offering seeks broader African investor participation, with Citi flagging the listing as a potential capital markets deepening catalyst.
Oct 11, 2026
Dangote IPO Goes Cross-Border
United Capital details its strategy to extend Dangote Refinery IPO retail distribution beyond Nigeria's borders, adding a fresh cross-border capital markets angle to the listing
Oct 9, 2026
Kenya Investors Join Dangote IPO
Kenyan retail investors gain Dangote Refinery IPO access via GDR, with refund conditions tied to minimum subscription threshold
Oct 8, 2026✦ Take
Dangote IPO Opens East Africa
Uganda formally approves Dangote Refinery GDRs for local retail investors, with Kenya approval also confirmed, completing East Africa's access to the $1.6bn IPO's 20% East African tranche.
Oct 6, 2026
Kenya Clears Dangote GDR Access
Kenya's CMA approves GDRs for the Dangote IPO, opening cross-border capital market access to Kenyan retail and institutional investors and setting a precedent for African listings.
Oct 4, 2026
Kenya's Dangote Stake Scrutinised
Kenyan consumer group formally seeks disclosure details on the government's $500 million equity stake in the Dangote Lamu refinery project
Oct 2, 2026✦ Take
Dangote Lamu Refinery Breaks Ground
Dangote and President Ruto hold formal groundbreaking ceremony for $16 billion Lamu refinery, advancing project despite outstanding court order
Oct 1, 2026
Dangote Lamu Refinery Advances
Honeywell named as technology partner for $16B Lamu refinery as Kenyan government confirms equity stake and Ruto endorsement holds despite court order
Sep 30, 2026
Kenya Court Halts Dangote Refinery
A Kenyan court issues an order stopping construction of Dangote's Kenya refinery; Dangote publicly dismisses the ruling.
Sep 28, 2026
Ruto Backs Dangote Refinery Push
Kenyan President Ruto publicly endorses the Dangote Refinery as the group signals active East Africa and pan-African fuel supply expansion
Sep 24, 2026✦ Take
Dangote's $17B Kenya Refinery Breaks Ground
Kenya groundbreaking for Dangote-backed $17B East Africa refinery confirmed for September 30.
Sep 23, 2026✦ Take
Dangote's $450M Kenya Refinery Deal
Dangote Group has signed a $450 million agreement with Engineers India Limited to develop a refinery in Kenya, marking a significant cross-border industrial infrastructure commitment by the Nigerian conglomerate. The deal extends Dangote's energy infrastructure ambitions beyond Nigeria into East Africa.