UBA Authorized for Dangote Refinery N2.15tn IPO Subscription

United Bank for Africa (UBA) Plc (NGX: UBA) has been designated as one of the authorized financial institutions for the subscription of Dangote Petroleum Refinery and Petrochemicals FZE’s Initial Public Offering (IPO), which aims to broaden ownership of the refinery. The IPO opened on September 14, 2026, and consists of 4.1 billion new ordinary shares priced at N525 per share.

Investors can subscribe for a minimum of 10 shares, totaling N5,250, and may apply for additional shares according to the offer's terms. The offer is set to close on October 13, 2026, in accordance with the provisions outlined in the prospectus and other related documents.

Tosin Adewuyi, executive director designate of UBA Group, expressed the bank's satisfaction in being part of this significant public offer and encouraged prospective investors to carefully review the offer documents to understand the terms and associated risks before making investment decisions.