Business & Finance
UBA Named Official Subscription Channel for Dangote Refinery's Landmark IPO
United Bank for Africa (UBA) Plc has been designated as one of the authorised financial institutions through which eligible investors can subscribe to shares in the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE. The role positions UBA to give Nigerian and eligible international investors access to what is being described as one of Africa's most significant industrial investment opportunities.
The IPO involves 4.1 billion ordinary shares priced at ₦525 each, with a minimum subscription requirement of 10 shares, amounting to ₦5,250. Investors may apply for additional shares in line with the offer's terms. The subscription window opens on Monday, September 14, 2026, and closes on October 13, 2026, subject to conditions outlined in the offer documents.
UBA is urging its customers and other members of the investing public to take advantage of its approved subscription channels to participate in the offer.
Tosin Adewuyi, Executive Director Designate at UBA Group, said the bank was pleased to be named among the approved institutions providing access to the offer. He noted that UBA remains committed to deepening financial inclusion and expanding opportunities for individuals and businesses to engage in Nigeria's capital market.
Adewuyi added that the offer gives eligible investors a chance to participate in the ownership of a major Nigerian industrial enterprise. He encouraged prospective investors to obtain and review the offer documents thoroughly, understand the associated terms and risks, and make informed decisions before investing.
According to Adewuyi, eligible investors can subscribe for shares through UBA's approved channels. He advised investors to ensure their personal and banking information, including Bank Verification Number (BVN) details, are accurate and current before submitting applications. UBA customers can access the offer through the bank's designated platform at https://www.ubagroup.com/nigeria/self-service/, subject to the applicable subscription process and terms.
The Dangote Refinery IPO is expected to be a major transaction in Nigeria's capital market, aimed at broadening ownership participation in the refinery and offering retail investors a chance to invest in the business. UBA is inviting individuals, professionals, entrepreneurs, business owners, institutional investors and other eligible participants to subscribe through the bank.
Investors are advised to carefully read the Prospectus and other offer documents and seek professional advice where necessary before investing, as share investments carry risks and their value may rise or fall. UBA also cautioned investors to subscribe only through approved channels and remain alert to fraudulent investment schemes. The official Dangote Refinery IPO website has warned investors never to disclose their PIN, password or One-Time Password (OTP), or to pay funds into a personal account.
UBA is one of Africa's largest financial institutions, serving over 45 million customers worldwide. It operates in 20 African countries, as well as in the United Kingdom, the United States, France and the United Arab Emirates, offering retail, commercial and institutional banking services while promoting financial inclusion, innovation and sustainable development across its markets.