Dangote refinery IPO: Zenith Bank opens subscription channels for Nigerians worldwide

Zenith Bank has announced the availability of its banking platforms for Nigerians in the country and abroad seeking to participate in the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals.

The bank, which is a receiving bank and designated electronic application channel for the offer, said prospective investors could subscribe through its website, mobile application, internet banking, USSD, corporate internet banking and branches nationwide.

According to the bank, the subscription process is designed to provide investors with convenient and secure access to the offer, regardless of their location.

Zenith Bank operates 456 branches and 84 cash centres, providing investors with multiple channels to submit their applications. Nigerians in the diaspora can also access the bank’s digital platforms to participate in the offer.

The bank said each subscription would be linked to the investor’s Bank Verification Number (BVN), which serves as an identity and security measure throughout the application and allotment process.

Offer opens September 14

The IPO is scheduled to open on Monday, September 14, 2026, and close on Tuesday, October 13, 2026, according to details contained in the prospectus.

The shares are being offered at N525 each, with a minimum subscription of 10 shares valued at N5,250.

The offer seeks to raise N2.15 trillion, which the prospectus describes as the largest equity offering ever undertaken on the African continent.

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Under the Retail Investor Incentive Programme, retail investors who subscribe and retain their shares may qualify for bonus shares, subject to regulatory approvals and the applicable terms of the offer.

Bank highlights digital infrastructure

Zenith Bank said its digital infrastructure and nationwide branch network would support investors throughout the subscription period.

The financial institution noted that its previous public offering was conducted mainly through digital channels, demonstrating its capacity to process applications electronically.

It added that a comprehensive technological overhaul had further strengthened its systems, enabling it to serve retail investors more efficiently.

Within the transaction, Quantum Zenith Capital & Investments Limited is listed among the joint issuing houses, while Zenith Bank will provide the channels for receiving and processing applications.

The bank urged interested investors to study the prospectus and comply with the applicable regulations before subscribing. It also advised prospective subscribers to seek independent professional advice where necessary.

Investors can participate by opening or funding existing Zenith Bank accounts and making payments through the bank’s approved electronic platforms before the offer closes on October 13, 2026.

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