# Dangote Refinery Valued 33.4% Over IPO Price

> Renaissance Capital Africa values Dangote refinery at ₦700.41 per share, 33.4% above IPO price.
- Title: Dangote Refinery Valued 33.4% Over IPO Price · The Rio Times
- Summary: Renaissance Capital Africa values Dangote refinery at ₦700.41 per share, 33.4% above IPO price.
- Keywords: dangote refinery, renaissance capital africa, nigerian naira, ipo, nigeria, securities and exchange commission, aliko dangote, news, world, politics, Dangote, Refinery
- Source: The Rio Times — https://riotimesonline.com/dangote-refinery-valuation-renaissance-capital-ipo-price-2026
- Author: Amina Diarra
- Published: 2026-10-20T03:25:54+00:00
- Read time: 1 min
- Topics: dangote refinery, renaissance capital africa, nigerian naira, ipo, nigeria, securities and exchange commission, aliko dangote, news, world, politics
## New Valuation
Renaissance Capital Africa now values the Dangote refinery at ₦700.41 a share (about US$0.52).
## IPO Price and Date
The IPO closes on 27 October 2026 after regulator-approved extension.
## Nine-Month Results
Refinery reported US$22.5 billion revenue and US$4.73 billion net profit for first nine months of 2026.
## Valuation Increase
Valuation rose 13.1% from ₦619.47 to ₦700.41 after reading preliminary results.
## IPO Terms
Offer sells 4.1 billion shares at ₦525 each, about ₦2.15 trillion (US$1.6 billion).
## Rival Analysis
GTI Research values refinery at ₦493 per share, below IPO price.
## Currency Impact
Each 1% naira move changes per-share value by about ₦7.
## What It Means for US Investors
US investors see potential US$55.1 billion stake for Aliko Dangote at current valuation.
## Key takeaway

Renaissance Capital Africa values Dangote refinery at ₦700.41 per share, 33.4% above ₦525 IPO price.