UBA Facilitates Dangote Refinery IPO for Investors

United Bank for Africa (UBA) Plc has received authorization to accept subscriptions from eligible investors for the Dangote Petroleum Refinery and Petrochemicals FZE Initial Public Offering (IPO). The IPO opened on September 14, 2026, and will close on October 13, 2026.

It offers 4.1 billion ordinary shares priced at N525 per share, with a minimum subscription of 10 shares, totaling N5,250. Tosin Adewuyi, Executive Director Designate of UBA Group, expressed the bank's commitment to expanding access to Nigeria's capital market.

UBA encourages investors to review the prospectus and understand the associated risks before participating. Investors can subscribe through UBA's designated channels, including a self-service platform, and must ensure their personal banking details are accurate.

UBA cautioned against fraudulent schemes and advised investors to only use approved channels for subscriptions. The Dangote Refinery IPO is anticipated to be a significant transaction in Nigeria's capital market, allowing broader public ownership of the refinery.