Investors seeking to buy shares in Dangote Petroleum Refinery and Petrochemicals FZE will be able to subscribe through 32 approved channels, comprising banks, fintech and investment platforms, mobile-money services and the NGX Invest platform.
The broad distribution network is designed to make the landmark offer accessible to a large number of retail investors as Dangote Refinery moves towards what is expected to be one of the biggest public offerings in Africa.
The Securities and Exchange Commission (SEC) approved the IPO last week, clearing the refinery to offer 4.1 billion ordinary shares at ₦525 per share, which could raise about ₦2.15 trillion if fully subscribed.
The offer has a minimum subscription of 10 shares, costing ₦5,250, making it possible for relatively small investors to participate. The transaction advisers have said the offer is targeting as many as 10 million retail investors.
32 approved channels
The approved channels listed on the official Dangote IPO website are:
Banks
Access Bank
Ecobank
FCMB
Fidelity Bank
FirstBank
Globus Bank
GTCO
Jaiz Bank
Keystone Bank
Lotus Bank
PremiumTrust Bank
Providus Bank
Stanbic IBTC
Sterling Bank
TAJ Bank
UBA
Union Bank
Wema Bank
Zenith Bank
Fintech and investment platforms
Bamboo
Flutterwave
InvestNaija
Ladder
Moniepoint
Paga
Payaza
PiggyVest
Vetiva Invest
we.yan
Mobile-money platforms
Airtel SmartCash
MTN MoMo
NGX
NGX Invest
The official IPO website specifically warns prospective investors to use only the approved channels listed on its platform and to verify any channel before making a subscription.
