United Bank for Africa (UBA) Plc has opened its approved subscription channels to eligible investors seeking to acquire shares in the Dangote Petroleum Refinery and Petrochemicals FZE through its Initial Public Offering (IPO).
The bank, which was listed among the authorised financial institutions for the offer, said the development would enable its customers and other qualified investors to participate in the ownership of the landmark Nigerian industrial project.
The public offer involves 4.1 billion ordinary shares priced at ₦525 each, with a minimum subscription of 10 shares, valued at ₦5,250. Investors may subscribe for additional shares in line with the terms of the offer.
The offer commenced on Monday, September 14, 2026, and is expected to close on October 13, 2026, subject to the provisions of the offer documents.
UBA urged individuals, professionals, entrepreneurs, business owners, institutional investors and other eligible members of the investing public to take advantage of its approved channels to participate in the transaction.
Executive Director Designate, UBA Group, Tosin Adewuyi, described the bank’s participation as part of its commitment to widening access to Nigeria’s capital market.
“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 offer presented eligible investors with an opportunity to own shares in a major Nigerian industrial enterprise, while advising prospective subscribers to carefully study the offer documents before making investment decisions.
“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 said.
According to UBA, investors intending to subscribe should ensure that their personal and banking information, particularly their Bank Verification Number (BVN), is accurate and up to date before submitting their applications.
The bank said its customers could access the offer through its designated subscription channels via its self-service platform.
The Dangote Refinery IPO is expected to rank among the major transactions in Nigeria’s capital market, with the offer aimed at expanding public participation in the ownership of the refinery and creating an investment opportunity for retail investors.
UBA, however, advised prospective investors to read the Prospectus and other relevant offer documents carefully and seek appropriate professional advice where necessary.
It warned that investment in equities carries risks, noting that the value of shares may rise or fall.
The bank also urged investors to use only approved subscription channels and exercise caution against fraudulent investment schemes.
The official Dangote Refinery IPO website has similarly cautioned investors against disclosing their PIN, password or OTP, and warned them not to make payments into personal bank accounts.
UBA is one of Africa’s largest financial institutions, serving more than 45 million customers across 20 African countries, as well as the United Kingdom, United States, France and the United Arab Emirates. The bank provides retail, commercial and institutional banking services across its markets.
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