KEY POINTS
• UBA has been named an authorised financial institution for the Dangote refinery IPO.
• The offer comprises 4.1 billion shares priced at N525 each.
• Investors can subscribe for a minimum of 10 shares valued at N5,250.
MAIN STORY
United Bank for Africa Plc has been designated as one of the authorised financial institutions through which eligible investors can subscribe for shares in the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals FZE.
The public offer comprises 4.1 billion ordinary shares priced at N525 per share, with investors required to subscribe for at least 10 shares, valued at N5,250. Additional shares can be requested in line with the terms of the offer.
The IPO opened on September 14, 2026, and is scheduled to close on October 13, 2026, subject to the conditions contained in the offer documents.
UBA said its customers and other eligible investors can access the offer through the bank’s approved subscription channels.
Tosin Adewuyi, Executive Director Designate at UBA Group, said the bank’s participation would support wider access to the capital market.
“We are pleased to be named as one of the approved financial institutions providing access to the Dangote Refinery public offer. At UBA, we remain committed to deepening financial inclusion and expanding opportunities for individuals and businesses to participate meaningfully in Nigeria’s capital market.”
Adewuyi said the offer gives eligible investors an opportunity to acquire an interest in a major Nigerian industrial business, while urging prospective subscribers to review the offer documents and understand the associated terms and risks.
Eligible investors can submit applications through UBA’s approved subscription channels. The bank also advised applicants to ensure that their personal and banking information, including Bank Verification Number details, is accurate and up to date.
UBA customers can access the offer through the bank’s designated channels, including its self service platform, subject to the applicable subscription process.
The bank said the IPO could broaden participation in ownership of the refinery by providing retail investors and other eligible participants with access to the public offer.
It urged individuals, professionals, entrepreneurs, business owners, institutional investors and other eligible investors interested in the offer to use approved channels when submitting applications.
UBA also warned investors to remain alert to fraudulent schemes and advised them to read the Prospectus and other offer documents carefully and seek professional advice where necessary.
The bank noted that investments in shares carry risks and that investment values can rise or fall. It also advised investors not to disclose sensitive banking information such as PINs, passwords or one time passwords, or transfer funds to personal accounts in connection with the IPO.
THE ISSUES
- UBA’s appointment as an authorised financial institution gives its eligible customers another formal channel through which to access the Dangote refinery public offer.
- The minimum subscription of 10 shares at N5,250 provides a defined entry point for investors seeking to participate in the offer, while additional subscriptions remain subject to the offer terms.
- The IPO creates an opportunity for retail and institutional investors to acquire shares in a major Nigerian industrial enterprise through the capital market.
- The investment carries market risk, making the offer documents important for investors assessing the terms, risks and suitability of the shares before subscribing.
- Using authorised subscription channels is also important as investors face the risk of fraudulent schemes seeking to exploit interest in the public offer.
WHAT’S BEING SAID
“We are pleased to be named as one of the approved financial institutions providing access to the Dangote Refinery public offer. At UBA, we remain committed to deepening financial inclusion and expanding opportunities for individuals and businesses to participate meaningfully in Nigeria’s capital market.” – Tosin Adewuyi, Executive Director Designate, UBA Group
WHAT’S NEXT
The offer will remain open until October 13, 2026, subject to the terms contained in the offer documents. Eligible investors seeking to participate are expected to submit their applications through approved channels before the closing date.
BOTTOM LINE
UBA has joined the authorised financial institutions facilitating subscriptions to the Dangote refinery IPO. The offer provides eligible investors with access to 4.1 billion shares at N525 each, subject to the stated terms and investment risks.
