By Peace Udugba — The Daily Torch Media
The Dangote Petroleum Refinery has expanded access to its ongoing Initial Public Offering (IPO) by allowing prospective investors to subscribe for shares through participating Moniepoint Point-of-Sale (POS) agents nationwide.
The development is aimed at widening retail participation and bringing the share subscription process closer to Nigerians, particularly those in communities where agency banking is a major channel for accessing financial services.
Under the arrangement, intending investors can visit participating Moniepoint agents to complete their Dangote Refinery share subscriptions through the approved process.
The refinery is offering its shares at ₦525 per share, with a minimum subscription of 10 shares, requiring an initial investment of ₦5,250.
Investors can also subscribe multiple times during the offer period, allowing them to increase their holdings progressively.
The company said the use of the Moniepoint agency network is part of efforts to broaden participation in the capital market and make ownership of the refinery accessible to more Nigerians.
According to the company, leveraging agency banking infrastructure will help reduce barriers to participation, particularly for prospective investors who may have limited access to traditional financial service channels.
The initiative is also expected to support the refinery’s objective of developing a broad and diversified shareholder base.
Prospective investors using Moniepoint agents are required to complete their transactions through the approved subscription process and retain their receipts as evidence of payment.
Subscribers will also receive confirmation of their subscriptions through SMS notifications linked to their registered telephone numbers.
The company advised prospective investors to carefully review the IPO Prospectus and seek professional advice from licensed stockbrokers or financial advisers before making investment decisions.
Details of the approved subscription channels and the Prospectus are available through the designated IPO portal.
The expansion of subscription channels comes as the Dangote Refinery seeks to increase retail participation in its public offer and enable more Nigerians to acquire an ownership stake in the refinery.
