UBA Joins Authorised Channels for Dangote Refinery N2.15tn IPO

• UBA has been approved as a financial institution through which eligible investors can subscribe to the Dangote Refinery IPO.

• The offer comprises 4.1 billion shares at N525 each, with a minimum subscription of 10 shares costing N5,250.

• The N2.15 trillion offer runs until October 13, with investors urged to use approved channels and review the prospectus before subscribing.

September 15, () – United Bank for Africa (UBA) Plc has been named one of the authorised financial institutions through which eligible investors can subscribe to Dangote Petroleum Refinery and Petrochemicals FZE’s Initial Public Offering (IPO).

The development gives UBA customers and other eligible investors access to the landmark offer, which seeks to broaden ownership of one of Africa’s largest industrial projects.

The Dangote Refinery IPO, which opened on September 14, 2026, comprises 4.1 billion new ordinary shares priced at N525 per share.

Investors can subscribe for a minimum of 10 shares at N5,250 and apply for additional shares in line with the terms of the offer.

The offer is scheduled to close on October 13, subject to the provisions contained in the prospectus and other offer documents.

Bank urges informed participation

Tosin Adewuyi, executive director designate, UBA Group, said the bank’s participation would provide another channel for eligible investors seeking to access the offer.

“We are pleased to be named as one of the approved financial institutions providing access to the Dangote Refinery public offer,” Adewuyi said.

He encouraged prospective investors to obtain and review the offer documents carefully, understand the terms and associated risks, and make informed investment decisions.

According to UBA, eligible investors can subscribe for the Dangote Refinery shares through the bank’s designated subscription channels, subject to the applicable procedures.

The bank also advised investors to ensure that their personal and banking details, including Bank Verification Number information, are accurate and up to date before submitting applications.

UBA customers can access the offer through the bank’s designated channels and self-service platform.

Investors who are not UBA customers may also participate through other authorised distribution channels provided for in the offer documents.

Investors warned against fraud

UBA cautioned prospective investors to subscribe only through approved channels and remain alert to fraudulent investment schemes targeting the IPO.

It advised investors to carefully review the prospectus and other offer documents and seek professional advice where necessary before committing funds.

The bank noted that investment in shares carries risks and that the value of an investment can rise or fall.

The Dangote Refinery IPO itself has also warned investors against disclosing sensitive banking information or transferring funds to personal accounts in the name of purported agents or representatives.

Investors have been specifically advised not to disclose their Personal Identification Number, password, or One-Time Password, or make payments into personal accounts in connection with the offer.

The IPO is seeking about N2.15 trillion from investors and is expected to rank among the largest equity offerings in Africa.

Proceeds from the offer are expected to support Dangote Refinery’s expansion and other strategic investments as the company seeks to increase its capacity and strengthen its position in Nigeria and international petroleum markets.