The United Bank for Africa (UBA) Plc has opened subscription for the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE to eligible investors.
This follows its authorisation as one of the financial institutions approved to provide investors with access to the public offer, which comprises 4.1 billion ordinary shares offered at N525 per share.
The offer has a minimum subscription of 10 shares valued at N5,250, while investors can apply for additional shares in accordance with the terms of the offer.
According to UBA, the offer opened on Monday, September 14, 2026, and will close on October 13, 2026, subject to the terms contained in the offer documents.
Commenting on the development, UBA Executive Director Designate, Tosin Adewuyi, said the bank was pleased to be among the approved financial institutions providing access to the Dangote Refinery public offer.
Adewuyi said the bank remained committed to deepening financial inclusion and expanding opportunities for individuals and businesses to participate meaningfully in Nigeria’s 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.
He explained that eligible investors could subscribe for the shares through UBA’s approved channels, including the bank’s designated subscription channels, and urged prospective investors to obtain and carefully review the prospectus and other offer documents before applying.
Adewuyi also advised investors to ensure that their personal and banking details, including their Bank Verification Number, were accurate and up to date, stressing the need for them to understand the terms and risks involved before making investment decisions.
“This public offer provides eligible investors with an opportunity to participate in the ownership of a major Nigerian industrial enterprise. We encourage interested investors to obtain and carefully review the offer documents, understand the terms and risks involved, and make informed investment decisions,” Adewuyi added.
The offer is expected to be a landmark transaction for Nigeria’s capital market, with the public offer designed to broaden participation in the ownership of the refinery and provide retail investors with an opportunity to invest in the business.
Investors are, however, advised to seek appropriate professional advice where necessary before investing, as investment in shares carries risks and the value of an investment may rise or fall.
UBA also advised investors to subscribe only through approved channels and remain vigilant against fraudulent investment schemes. The bank noted that the official Dangote Refinery IPO website specifically warns investors never to disclose their PIN, password or OTP or pay money into a personal account.
It further advised subscribers to read the prospectus and relevant offer documents before subscribing.