By Rinelda Mouton
NAMIBIAN investors seeking to participate in the proposed Dangote Petroleum Refinery and Petrochemicals IPO will have to submit their participation instructions 11 days before the official Nigerian offer closes, according to information provided by IJG Securities.
IJG has communicated 17:00 on 2 October 2026 as the deadline for Namibian investors wishing to participate through its local investment platform.
The wider Dangote Refinery IPO opened on 14 September and is scheduled to close on 13 October 2026, according to Nigeria’s Securities and Exchange Commission and Reuters.
The earlier Namibian cut-off means prospective local investors will have a considerably shorter window to complete the required account-opening, compliance and investment processes.
IJG Managing Director for Wealth and Investment, Andri Ntema, said investors wishing to participate through IJG must complete several steps before submitting their investment instructions.
These include opening an IJG Money Market Account, completing an IJG Equities Application Form, signing a Client Dealing Mandate and submitting a Buy & Sell Instruction Sheet specifying the intended investment amount and relevant company details.
IJG said the early deadline is intended to allow sufficient time for compliance checks and processing before the Nigerian offer closes.
Investors are required to meet the applicable Financial Intelligence Act and anti-money laundering requirements.
The deadline comes as the Dangote Refinery IPO seeks to raise about N2.15 trillion through the sale of 4.1 billion shares.
The shares are priced at 525 naira each, with proceeds expected to support the refinery’s planned expansion.
The refinery currently has a production capacity of about 700,000 barrels per day and plans to expand to 1.4 million barrels per day over the next three years.
For Namibian investors, however, the precise number of shares available to local participants remains unclear.
IJG said the information currently available to it does not specify how many shares have been allocated specifically to Namibian investors.
The investment firm also clarified that the N$6.46 figure appearing on its Buy & Sell Instruction Sheet should not be interpreted as the Dangote IPO offer price.
“The information currently provided by IJG includes N$6.46 per share as an illustration of how the Buy & Sell Instruction Sheet should be completed. This is not being presented as the final offer price,” Ntema said.
IJG recommends a minimum investment of N$50,000, primarily because of brokerage, custody and foreign exchange costs, as well as possible exchange-rate movements.
However, lower amounts will be accepted, with investors expected to understand and accept the associated costs and risks.
IJG has urged prospective investors to study the IPO prospectus and information leaflet before committing funds.
The Nigerian SEC has similarly warned investors to use only officially designated subscription channels and registered capital market operators, and to verify the authenticity of platforms before providing personal or financial information.
The regulator has also cautioned investors against unsolicited messages, social media advertisements and other platforms promising guaranteed allocations.
For Namibians using IJG, the immediate deadline remains 17:00 on 2 October, meaning investors who intend to participate have less time to complete the required documentation than the wider Nigerian market.
