Nigerians Can Now Buy Shares Through Moniepoint Agents, Says Dangote Refinery
Nigerians seeking to invest in Dangote Petroleum Refinery can now subscribe for shares through participating Moniepoint agents around the clock, further expanding access to the company’s public offer.
The initiative is expected to bring the Initial Public Offering (IPO) closer to millions of Nigerians who regularly use agency banking services, including prospective investors who may not ordinarily access conventional investment channels, a statement from Dangote said.
Under the arrangement, investors can visit participating Moniepoint agents at any time to subscribe for shares in the Dangote Petroleum Refinery through the approved process.
The shares are being offered at N525 each, with a minimum subscription of 10 shares. This means prospective investors can participate in the offer with a minimum investment of N5,250.
Investors are also allowed to subscribe multiple times during the offer period, enabling them to increase their holdings progressively.
The introduction of the 24-hour agency banking channel represents another step towards widening participation in the offer and reducing some of the practical barriers that may limit retail investors’ access to the capital market.
Agency banking has become an important component of Nigeria’s financial system, taking banking services closer to communities and people who may have limited access to conventional banking outlets.
By leveraging the network of participating Moniepoint agents, the Dangote Refinery offer can reach prospective investors across a broader geographical and socioeconomic spectrum.
The development is also in line with the broader ownership objective of the public offer, which seeks to provide Nigerians with an opportunity to acquire a stake in one of the country’s largest industrial assets.
Prospective subscribers using participating Moniepoint agents are required to complete their transactions through the approved process and retain their transaction receipts as evidence of subscription.
Details of the subscription will also be sent to investors via SMS to their registered phone numbers.
The company advised prospective investors to consult the offer Prospectus for comprehensive information about the public offer and approved subscription channels.
Investors were also encouraged to consult their stockbrokers or financial advisers before making investment decisions.
