By Ayomide Otitoju
FirstBank has announced channels through which customers and investors can subscribe to the Dangote Petroleum Refinery & Petrochemicals FZE Initial Public Offering (IPO), which opens on September 14, 2026.
FirstBank is acting as a Receiving Bank for the offer, which comprises 4.1 billion ordinary shares priced at ₦525 each.
The bank said the IPO provides retail and institutional investors with an opportunity to acquire a stake in the company and participate in its growth.
The offer has a minimum subscription of 10 shares, valued at ₦5,250, with subsequent applications in multiples of 10 shares.
The IPO will open on September 14 and close on October 13, 2026, with full payment required upon application. Eligible retail investors may also receive bonus shares, subject to the terms of the Prospectus.
Proceeds from the offer are expected to support the expansion of refinery operations, while the shares are intended to be listed on the Main Board of the Nigerian Exchange Limited.
FirstBank said investors can subscribe through its digital and physical channels, including FirstMobile, FirstOnline, LIT App, PayByLink, FirstDirect for corporate customers, FirstMonie agents and FirstBank branches nationwide.
The bank said detailed subscription guidelines and application links would be made available when the offer opens.
FirstBank said the IPO could provide investors with an opportunity to participate in the development of Nigeria’s refining and industrial capacity.
The bank, however, clarified that it is acting solely as a Receiving Bank for the offer and advised investors to read the Prospectus carefully and seek independent professional advice before making investment decisions.
