write. Hatem Mohamed

Strategies and Consulting DIFC Ltd (“Marob Strategies”) and Lilium Capital Group (“Lilium Capital”), co-financial advisers to Dangote Petroleum Refinery & Petrochemicals FZE (“DPRP”), have structured and delivered a US$1 billion underwriting programme in support of the refinery’s private placement and planned Initial Public Offering (IPO).
​Key Transaction Highlights
​US$600 Million Phase I Completed: Fully funded underwritten private placement secured through Pan-African Refinery Investment SPV, a subsidiary of Lilium Capital.
​US$400 Million IPO Commitment: Conditional underwriting commitment to be activated upon the official launch of the IPO, subject to market conditions and regulatory approvals.
​Global Africa Capital Mobilisation: Active sell-down and participation coordination engaging African and Caribbean sovereign wealth funds, governments, and institutional investors.
​Regional Integration: Designed to catalyze intra-African capital flows under the framework of the African Continental Free Trade Area (AfCFTA).
​Executive Perspectives
​Alhaji Aliko Dangote, President and Chief Executive of Dangote Industries Limited:
“This is an important milestone for DPRP and for African capital markets. The successful completion of the private placement, together with the US$400 million underwriting commitment, reflects confidence in the refinery’s strategic role. The work undertaken by Marob Strategies and Lilium Capital has created a platform for broader participation by sovereign wealth funds and institutional investors across Global Africa.”
​Professor Benedict Okey Oramah, Chairman of Marob Strategies and Consulting DIFC Ltd:
“Marob Strategies is now focused on disciplined distribution across Global Africa. The level of interest confirms the strong appetite for African-led capital markets transactions that provide investors access to transformative continental assets. The success of this transaction paves the way for many more in the future.”
​Mr. Simon Tiemtoré, Chairman of Lilium Capital Group:
“By mobilising long-term capital for strategic assets such as the Dangote Petroleum Refinery, we are supporting industrialisation, strengthening capital markets, and contributing to sustainable economic growth across the continent. We look forward to mobilising capital for more transformative projects across Africa.”
​Transaction Status & Legal Disclaimer
The US$600 million private placement has been completed and funded. No public offering (IPO) has been launched as of the date of this announcement. Any future offering remains subject to market conditions, corporate and regulatory approvals, and execution of definitive documentation in compliance with applicable securities laws.