UBA JOINS APPROVED PLATFORMS FOR DANGOTE REFINERY SHARE OFFER

United Bank for Africa Plc has opened its subscription channel for the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals FZE, allowing eligible investors to apply for shares in the landmark public offer. UBA is among the financial institutions authorised to facilitate subscriptions, giving its customers and other qualified investors access to the opportunity to become shareholders in one of Africa’s major industrial projects.

The Dangote Refinery IPO involves 4.1 billion ordinary shares offered at ₦525 per share. Investors can start with a minimum subscription of 10 shares, which is valued at ₦5,250, while those seeking larger allocations can apply for additional shares in line with the terms and conditions contained in the offer documents. The public offer is expected to provide Nigerians and eligible international investors with an opportunity to participate directly in the ownership of the refinery.

UBA advised prospective investors to ensure that their personal and banking information is accurate and up to date before submitting their applications. Investors are particularly expected to confirm details such as their Bank Verification Number and other required information to avoid problems during the subscription and verification process.

The bank's participation comes as Dangote Refinery expands the channels available to investors ahead of and during the public offer. The refinery has approved a range of commercial banks, fintech platforms, mobile money operators and investment platforms to handle subscriptions, with the company warning prospective investors to use only officially approved channels to avoid falling victim to fraudulent platforms.

The share offer represents a major development in Nigeria’s capital market, as the public is being given an opportunity to take ownership stakes in the large-scale petroleum refining project. With the refinery already playing a major role in Nigeria’s fuel supply chain, the IPO is expected to attract significant interest from individual and institutional investors seeking exposure to the company and the wider energy sector.