Stanbic IBTC Subscription Channels for Dangote Refinery IPO Still Open

Stanbic IBTC Bank subscription channels remain open for investors seeking to participate in the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE, offering individuals and corporate investors access to the 4.1 billion shares being offered to the public.

The offer, which runs from September 14 to October 13, 2026, comprises 4.1 billion ordinary shares priced at N525 each, with a minimum subscription of 10 shares and additional purchases in multiples of 10.

Stanbic IBTC is serving as Joint Lead Issuing House, Joint Stockbroker and Receiving Bank for the offer.

Investors applying for 50,000 shares or more may use the Investor Application Form. They are advised to contact their Stanbic IBTC representative, Relationship Manager, Wealth Adviser or Stockbroker for payment instructions.

All applications must be accompanied by full payment, while investors are required to provide the necessary identification and account details, including their National Identification Number (NIN) and Bank Verification Number (BVN), where applicable.

The proceeds from the transaction will be used to fund growth capital expenditure for the refinery’s expansion programme.

The ordinary shares have also been assessed as Shari’ah-compliant following an independent assessment based on applicable screening criteria.

Eligible retail investors may receive up to two additional shares at no extra cost, provided they maintain the minimum shareholding for the prescribed periods outlined in the prospectus and subject to the required approvals.

The shares are expected to be listed on the Nigerian Exchange (NGX) Limited after the completion of the IPO.

Stanbic IBTC also advised prospective investors to read the Frequently Asked Questions, Prospectus and Abridged Particulars of the Prospectus before submitting their applications. The documents contain details of the offer, application procedures, investment risks and other material information.

Investors have also been advised to consult their stockbrokers, bankers, accountants, solicitors or other professional advisers if they require clarification before making an investment decision.

Applications submitted after the closing date or those that fail to comply with the requirements outlined in the Prospectus may be rejected.

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Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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