CMA warns Kenyans against unauthorised Dangote Refinery IPO offers

NAIROBI, Kenya Sep 22 – The Capital Markets Authority (CMA) has warned Kenyan investors against relying on information circulating about the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE.

In a public notice, the regulator clarified that the Dangote Refinery IPO is regulated in Nigeria and has not been submitted to the CMA for consideration and approval under Kenya’s applicable legal and regulatory framework.

The CMA urged members of the public to independently verify the authenticity and source of any prospectus or other offering document before making investment decisions.

The regulator also cautioned investors against making payments or sharing personal or financial information based on unverified IPO communications.

“Members of the public are advised to only rely on official communication from the relevant regulators, issuers, and authorised channels in respect to any public offer,” the CMA said.

The Authority further advised investors to conduct all transactions related to public offers through licensed capital markets intermediaries.

Investors can verify the licensing status of capital markets intermediaries through the CMA’s official licensee portal.

The warning comes amid growing public interest in the Dangote Petroleum Refinery and Petrochemicals IPO and follows the circulation of information regarding the offer in Kenya.

The CMA reiterated its mandate to promote orderly, fair and efficient capital markets while protecting investors.

The Authority urged members of the public to exercise caution and verify investment opportunities through official regulatory and issuer channels before committing funds or disclosing sensitive information.