Dangote Petroleum Refinery and Petrochemicals FZE has named 32 banks, financial technology platforms, mobile money operators and investment channels through which Nigerians can subscribe for shares in its public offer.
The company published the approved channels on its official IPO platform, warning prospective investors to avoid subscribing through any provider that does not appear on the authorised list.
Shares are currently offered at N525 each, with investors required to purchase a minimum of 10 shares, bringing the lowest subscription amount to N5,250, Brandspur Banking News Desk reports.
The 32 approved channels comprise 19 banks, 10 financial technology and investment platforms, two mobile money operators and NGX Invest.
The approved banks are Access Bank, Ecobank, First City Monument Bank, Fidelity Bank, FirstBank, Globus Bank, Guaranty Trust Holding Company, Jaiz Bank, Keystone Bank, Lotus Bank, PremiumTrust Bank, Providus Bank, Stanbic IBTC, Sterling Bank, TAJ Bank, United Bank for Africa, Union Bank, Wema Bank and Zenith Bank.
For investors who prefer digital financial and investment platforms, the approved channels are Bamboo, Flutterwave, InvestNaija, Ladder, Moniepoint, Paga, Payaza, PiggyVest, Vetiva Invest and we.yan.
Airtel SmartCash and MTN MoMo are the two approved mobile money channels, while investors can also subscribe through NGX Invest.
The wide range of subscription channels gives prospective investors different ways to participate in the offer, from conventional bank accounts to mobile money and digital investment platforms.
Dangote Refinery has urged investors to verify the platform they intend to use before making payments, stressing that subscriptions should only be completed through channels officially recognised for the offer.
The warning is particularly important as public offers involving widely recognised companies can attract fraudulent websites, payment requests and other schemes seeking to exploit investor interest.
At the current offer price, an investor purchasing the minimum 10 shares would pay N5,250, while 100 shares would cost N52,500 and 1,000 shares would require N525,000.
The public offer forms part of Dangote Refinery’s move to raise capital from Nigerian investors through the sale of ordinary shares, opening an avenue for eligible members of the investing public to acquire an ownership stake in the refinery.
Prospective subscribers are expected to rely on the refinery’s authorised channels and official IPO information when completing their investments.
