By: Odeh Favour Adiya
Dangote Petroleum Refinery and Petrochemicals FZE has approved 32 commercial banks, fintech companies, mobile operators, and other platforms through which prospective investors can subscribe to its shares when the public offer opens.
The company released the details on its official IPO website, cautioning investors to strictly utilize the designated channels featured on the platform.
The breakdown of the authorized platforms includes 19 commercial banks, 10 fintech firms, two mobile money operators, and NGX Invest.
Warning prospective subscribers against unverified transaction channels, the company stated, “Only subscribe through the channels listed on this page. Do not subscribe through any channel not confirmed here.”
The approved commercial banks consist of 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, and Zenith Bank.
The authorized fintech platforms include Bamboo, Flutterwave, InvestNaija, Ladder, Moniepoint, Paga, Payaza, PiggyVest, Vetiva Invest, and we.yan.
Additionally, mobile money platforms Airtel SmartCash and MTN MoMo, alongside NGX Invest, complete the list of approved channels.
Details on the refinery’s official portal indicate an offer price of ₦525 per share, requiring a minimum subscription of 10 shares valued at ₦5,250.
The public offering aligns with Dangote Refinery’s broader strategy to raise capital from the Nigerian investing public through the issuance of ordinary shares.
