By Peace Udugba – The Daily Torch Media
Investors seeking to participate in the Dangote Petroleum Refinery Initial Public Offering (IPO) can complete their subscriptions in less than two minutes through Fidelity Bank’s digital banking channels.
The bank has introduced multiple subscription options to accommodate existing customers, corporate organisations and non-customers in Nigeria and abroad.
Available channels include the Fidelity Bank iOS and Android mobile applications, corporate banking platform for corporate customers, and designated Fidelity Bank branches nationwide.
Non-Customers Can Subscribe Through Virtual Accounts
A key feature of the bank’s subscription solution is the provision of Virtual Accounts for investors who do not maintain accounts with Fidelity Bank.
Through the option, non-Fidelity Bank customers in Nigeria and abroad can initiate their subscriptions through the bank’s website, obtain dedicated Virtual Account details and fund their applications from an operational bank account.
The Virtual Account facility enables prospective investors to participate without opening a regular Fidelity Bank account before subscribing.
It also supports third-party-funded subscriptions and provides non-customers with a digital route to participate in the Dangote Refinery IPO.
Mobile App Available to Existing Customers
Existing retail customers can subscribe through the Fidelity Bank Mobile App on iOS and Android devices, while corporate customers can use the bank’s corporate online banking platform, subject to the applicable inputter and authoriser process.
Investors requiring additional assistance can visit any Fidelity Bank branch or contact Fidelity TrueServe on 070034335489, WhatsApp 09030005252, or email trueserve@fidelitybank.ng.
The bank said dedicated personnel are available around the clock to assist intending subscribers and facilitate the subscription process.
BVN, NIN and Other Requirements
Investors are required to provide relevant identification and account information when subscribing.
Depending on the investor’s circumstances, the requirements may include a Bank Verification Number (BVN) for non-Fidelity Bank account holders, a National Identification Number (NIN) for minors, and an active operational account or online banking profile for Fidelity Bank customers.
Investors without an existing Central Securities Clearing System (CSCS) account can also participate in the IPO.
A stockbroking account may be opened through Fidelity Securities Limited to facilitate the electronic crediting of allotted shares after the allotment process.
Investors to Receive Subscription Confirmation
Following successful authorisation of a subscription, the investor’s selected account will be debited or the assigned Virtual Account funded, as applicable.
The investor will subsequently receive a confirmation message, transaction reference and receipt as evidence of the application.
Fidelity Bank said the initiative underscores its commitment to expanding access to Nigeria’s capital market through simple, inclusive and technology-driven investment channels.
Prospective investors are advised to carefully review the approved Offer Prospectus before making an investment decision.
The Prospectus contains details of the eligibility requirements, offer price, minimum subscription, permissible multiples, offer period and other terms governing the Dangote Refinery IPO.
