Dangote Petroleum Refinery and Petrochemicals FZE has cleared 32 financial institutions, digital payment applications, telecommunications platforms, and market operators to handle subscriptions for its impending public offer.

The multi-channel distribution model is designed to drive retail market participation across Nigeria while providing an institutional framework for the sale of ordinary shares.Data published on the company’s dedicated public offer portal lists the offer price at ₦525 per unit, requiring prospective buyers to commit to a minimum purchase of 10 units valued at ₦5,250.

Management issued a direct advisory to prospective retail and institutional participants to process transactions solely through verified portals to avert fraud.”

Only subscribe through the channels listed on this page. Do not subscribe through any channel not confirmed here,” the company stated in an official advisory issued on its website.The traditional banking channel accounts for the largest share of receiving agents, comprising 19 commercial lenders:

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  • 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
  • Zenith Bank

To capture non-traditional and digital-first retail participants, the refinery sanctioned 10 financial technology platforms:

  • Bamboo
  • Flutterwave
  • InvestNaija
  • Ladder
  • Moniepoint
  • Paga
  • Payaza
  • PiggyVest
  • Vetiva Invest
  • we.yan

Mobile network payment operators and capital market infrastructure platforms were also cleared to receive applications:

  • Airtel SmartCash
  • MTN MoMo
  • NGX Invest

The equity float forms the core of Dangote Refinery’s capital-raising strategy, intended to transition the 650,000 barrel-per-day Lekki processing facility into a publicly traded corporate asset on the Nigerian bourse.