The tokenised Dangote IPO closes tomorrow
The on-chain tranche of the Dangote Refinery IPO closes Tuesday 13 October at 17:00 WAT. Subscriptions stand at ₦26.21M from 285 wallets, 13.1% of the 380,952 shares offered. Buying has slowed to a tenth of launch week, and 87% of the tranche is still unsold going into the last day.
- ₦26.21M
- Net subscriptions
- 49,916
- Shares held
- ₦2.60M
- Bought last week
- 13 Oct
- Offer closes
285 wallets
of 380,952 offered
a tenth of launch week
17:00 WAT
The on-chain route into the Dangote Refinery IPO closes tomorrow, Tuesday 13 October, at 17:00 WAT.
Where it stands after four weeks:
| Net subscriptions | ₦26,206,061 |
| Buying wallets | 285 |
| Shares held | 49,916 of 380,952 |
| Share of the tranche | 13.1% |
87% of the on-chain tranche is unsold going into the final day.
The shape of the four weeks
Demand arrived almost entirely at the start and has thinned since. Last week added ₦2,600,565 — about a tenth of what the opening week did, spread across the whole seven days, with the most recent trade late on 11 October.
Of the shares that have been taken up, 43,483 sit on Solana against 6,433 on Base — the in-app route through NectarFi has carried this from the first day, and still does.
What this is and is not
This is one channel. The offer runs through banks and brokers as well, and nothing here speaks to those. A 13.1% on-chain tranche is not a 13.1% offer.
What it does measure, precisely, is how much appetite the on-chain route itself found in four weeks: 285 wallets and ₦26.2M, with the first 48 hours doing most of the work.
Method
Buys and sell-backs of the tokenised Dangote Petroleum Refinery shares on Solana and Base, decoded from the sale and vault contracts, from the first buy on 14 September 2026 to 11 October. Net subscriptions are buys minus sell-backs in cNGN, at ₦1 per cNGN. Shares held are the tokens outside the sale vaults on each chain and reconcile to the vault balances. This covers the on-chain route only — it is a slice of the offer, not the offer, and says nothing about subscriptions through banks or brokers.
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AfriFlux (2026). The tokenised Dangote IPO closes tomorrow. Published 12 October 2026. https://www.afriflux.xyz/feed/ipo-final-day
Reproducing a chart? Use this line: Source: AfriFlux — on-chain intelligence for Africa's stablecoin economy. afriflux.xyz