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United Bank for Africa (UBA) Plc has been authorised to receive subscriptions from eligible investors for the Dangote Petroleum Refinery and Petrochemicals FZE Initial Public Offering (IPO).
The bank said yesterday that investors can use its approved channels to participate in the landmark offer, which gives Nigerians and eligible international investors an opportunity to acquire shares in the refinery.
The offer comprises 4.1 billion ordinary shares at N525 per share, with a minimum subscription of 10 shares valued at N5,250. Investors can apply for additional shares in line with the terms of the offer.
The IPO opened yesterday, September 14, 2026, and will close on October 13, 2026, subject to the terms contained in the offer documents.
Executive Director Designate, UBA Group, Tosin Adewuyi, said the bank was pleased to be among the approved financial institutions providing access to the offer.
He said UBA remained committed to expanding opportunities for individuals and businesses to participate in Nigeria’s capital market.
“This public offer provides eligible investors with an opportunity to participate in the ownership of a major Nigerian industrial enterprise,” Adewuyi said.
He urged prospective investors to obtain and carefully study the prospectus and other offer documents, understand the terms and risks involved, and make informed investment decisions.
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According to UBA, eligible investors can subscribe through the bank’s designated channels, while customers can access the offer through its self-service platform.
The bank advised investors to ensure that their personal and banking details, including Bank Verification Number (BVN) information, are accurate and up to date before submitting their applications.
UBA also warned investors against fraudulent investment schemes, urging them to subscribe only through approved channels.
The bank stressed that investors should never disclose their PIN, password or One-Time Password (OTP), or pay money into a personal account in connection with the IPO.
The Dangote Refinery IPO is expected to be one of the biggest transactions in Nigeria’s capital market, potentially widening public ownership of the refinery and giving retail investors an opportunity to take a stake in the multi-billion-dollar industrial project.
UBA urged individuals, professionals, entrepreneurs, business owners, institutional investors and other eligible investors interested in the offer to participate through its approved channels.
The bank further cautioned that investments in shares carry risks and that the value of investments may rise or fall.
