Investors across Kenya can now participate in the Dangote Petroleum Refinery Initial Public Offering through the Nairobi Securities Exchange after the regulator approved a short form path for a global depository receipt (GDR).
Capital Markets Authority says GDRs are certificates that represent ownership of shares in a foreign company, enabling investors to gain exposure to the underlying company through securities traded outside the issuer’s home market.
“GDRs allow investors in one country to invest in companies from another country without directly purchasing the underlying shares,” the regulator explains.
The Ksh207 billion public offering opened on September 14 and is set to close on October 13, 2026. Its target Kenya offer size is Ksh39 billion. But applicants must have an active CDS account, with applications to be submitted through either USSD code or online channels.
Offer details
Offer Price: 53.50 per GDR
Target amount to be raised is about Ksh39 billion
Minimum Investment: 2000 GDRs (Ksh 107,000) (and in multiples of 100 GDRs thereafter)
Transaction Advisors
Lead transaction advisor and lead broker: Renaissance Capital
Joint lead transaction advisor: Renaissance Capital Africa
Legal Advisers: G&A Advocates LLP
Share Registrar: Image registrars
Custodian and receiving bank: Stanbic
How to Apply
USSD: Dial *483*250# and follow the prompts
Online Portal: https://dangotegdr.e-offer.app/
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