Dangote Petroleum Refinery and Petrochemicals FZE has approved 32 banks, fintechs, mobile operators and other platforms for investors seeking to subscribe for its shares.
The company published the list on its official IPO website as part of preparations for its public offer.
Dangote Refinery also advised prospective investors to use only the approved channels when subscribing for the shares. The offer price is currently listed at N525 per share, with a minimum subscription of 10 shares valued at N5,250.
The approved subscription channels include 19 banks operating in Nigeria. They are:
- 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
The refinery urged investors to verify their chosen channel before completing any subscription.
“Only subscribe through the channels listed on this page. Do not subscribe through any channel not confirmed here,” the company stated.
Ten fintech companies have also been approved to facilitate subscriptions under the public offer.
They include:
- Bamboo
- Flutterwave
- InvestNaija
- Ladder
- Moniepoint
- Paga
- Payaza
- PiggyVest
- Vetiva Invest
- we.yan
The inclusion of fintech platforms provides investors with additional channels through which they can participate in the offer.
The approved list also includes two mobile money operators. They are Airtel SmartCash and MTN MoMo.
NGX Invest is also among the approved platforms for investors subscribing for the shares. The company said investors should rely only on its confirmed list of channels when participating in the offer.
The public offer forms part of Dangote Refinery’s broader plan to raise capital from Nigerian investors through the sale of ordinary shares.
With the minimum subscription set at 10 shares, investors can participate from N5,250 based on the listed offer price of N525 per share.
Dangote Refinery’s publication of the approved channels is intended to provide investors with clarity on where subscriptions can be made and reduce the risk of using unauthorised platforms.
Prospective investors have therefore been advised to confirm that their chosen bank, fintech or other platform appears on the company’s official list before subscribing.
