Dangote Refinery approves 32 channels for share subscription

Dangote Petroleum Refinery and Petrochemicals FZE has approved 32 banks, fintech firms, mobile network operators and investment platforms to handle subscriptions for its shares.

The company disclosed this on Thursday on its official Initial Public Offering (IPO) website ahead of the opening of its public offer.

It said the approved channels comprised 19 banks, 10 fintech companies, two mobile network operators and NGX Invest.

The company urged prospective investors to subscribe for the shares only through the approved channels.

It warned investors against using platforms that had not been officially approved for the offer.

“Only subscribe through the channels listed on this page. Do not subscribe through any channel not confirmed here.

“The approval of the channels is part of measures to guide investors and ensure that subscriptions for the refinery’s shares are made through authorised platforms,” the company said.

It advised prospective investors to verify the approved channels on its official IPO website before subscribing.

The approved banks are 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, UBA, Union Bank, Wema Bank and Zenith Bank.

The approved fintechs and investment platforms are Bamboo, Flutterwave, InvestNaija, Ladder, Moniepoint, Paga, Payaza, PiggyVest, Vetiva Invest and we.yan.

Also, the approved mobile network operators are Airtel SmartCash and MTN MoMo, while NGX Invest is also an approved subscription channel.