FULL LIST: Dangote Refinery approves 32 platforms for IPO subscription

Dangote Petroleum Refinery and Petrochemicals FZE has approved 32 banks, fintech firms, mobile money operators and investment platforms to handle subscriptions for its planned public offer.

The approved channels were published on the refinery’s official Initial Public Offering website, with the company warning prospective investors against using unverified platforms.

“Only subscribe through the channels listed on this page. Do not subscribe through any channel not confirmed here,” the company said.

The approved list comprises 19 commercial banks, 10 fintech and investment platforms, two mobile money operators and NGX Invest.

The banks authorised to receive subscriptions 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, United Bank for Africa, Union Bank, Wema Bank and Zenith Bank.

The 10 approved fintech and investment platforms are Bamboo, Flutterwave, InvestNaija, Ladder, Moniepoint, Paga, Payaza, PiggyVest, Vetiva Invest and we.yan.

Investors can also subscribe through Airtel SmartCash and MTN MoMo, while NGX Invest is the approved capital-market platform listed by the refinery.

The refinery’s IPO website currently puts the offer price at ₦525 per share, with investors required to purchase a minimum of 10 shares.

At the minimum subscription level, an investor would pay ₦5,250 for 10 shares.

The public offer is part of Dangote Refinery’s effort to raise capital from Nigerian investors through the sale of ordinary shares in the company.

The refinery urged prospective investors to verify that their chosen subscription channel appears on its official approved list before making any payment or submitting an application.