“Subscription Now Open”: UBA Invites Investors To Dangote Refinery IPO

United Bank for Africa (UBA) Plc has opened its approved subscription channels to eligible investors seeking to acquire shares in the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE.

The bank was named among the authorised financial institutions through which Nigerians and eligible international investors can participate in the public offer, which provides an opportunity to acquire shares in one of Africa’s major industrial investments.

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. Investors can apply for additional shares in line with the terms of the offer.

The offer opened on Monday, September 14, 2026, and is scheduled to close on October 13, 2026, subject to the terms contained in the offer documents.

Commenting on the development, Executive Director Designate, UBA Group, Tosin Adewuyi, said the bank was pleased to be among the approved financial institutions providing access to the offer.

“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 said the public offer provided eligible investors with an opportunity to participate in the ownership of a major Nigerian industrial enterprise.

“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,” he assured.

Adewuyi explained that eligible investors could subscribe for the Dangote Refinery shares through UBA’s approved subscription channels.

The bank advised investors to ensure that their personal and banking details, including their Bank Verification Number (BVN), 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 offer is expected to broaden participation in the ownership of the refinery while providing retail and other eligible investors with an opportunity to invest in the business.

The bank urged individuals, professionals, entrepreneurs, business owners, institutional investors and other eligible investors interested in the offer to subscribe through its approved channels.

Investors were also advised to read the prospectus and other relevant offer documents carefully and seek appropriate professional advice where necessary before investing.

UBA cautioned that investment in shares carries risks and that the value of an investment may rise or fall.

The bank further advised investors to subscribe only through approved channels and remain vigilant against fraudulent investment schemes.

The financial powerhouse warned investors against disclosing their PIN, password or one-time password (OTP), or paying money into personal accounts in connection with the offer.