Global financial institution, United Bank for Africa (UBA) Plc has emerged as an authorised financial institution through which investors can subscribe to the Dangote Petroleum Refinery and Petrochemicals FZE Initial Public Offering (IPO).
In a statement, the bank said it can provide investors with access to the public offer, which presents Nigerians and eligible international investors with an opportunity to become shareholders in one of Africa’s most significant industrial investments. NigeriaNews Subscription
The Dangote Refinery IPO offers 4.1 billion ordinary shares at N525 per share, with a minimum subscription of 10 shares valued at N5,250, and investors can apply for additional shares in accordance with the terms of the offer.
The offer, which opened yesterday will close on October 13, subject to the terms contained in the offer documents.
UBA is encouraging interested investors, including its customers and members of the investing public, to take advantage of its approved channels to participate in the offer.
Commenting on the development, Executive Director Designate, UBA Group, Tosin Adewuyi 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.” NigeriaNews Subscription
“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 said.
He explained that eligible investors can subscribe for the Dangote Refinery shares through UBA’s approved subscription channels.
Investors are advised to ensure that their personal and banking details, including their BVN information, are accurate and up to date before submitting their applications.
UBA customers can access the offer through the Bank’s designated channels, subject to the applicable subscription process and terms.
The Dangote Refinery IPO 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.
The bank therefore invites individuals, professionals, entrepreneurs, business owners, institutional investors and other eligible investors interested in participating in the offer to subscribe through UBA.
Investors are, however, advised to read the Prospectus and other offer documents carefully and seek appropriate professional advice where necessary before investing. An investment in shares carries risks, and the value of an investment may rise or fall.
UBA also advises investors to subscribe only through approved channels and to remain vigilant against fraudulent investment schemes. The official Dangote Refinery IPO website specifically warns investors never to disclose their PIN, password or OTP or pay money into a personal account.
Credit: thenationonlineng.net
