Zenith Bank, a receiving bank for the Dangote Petroleum Refinery and Petrochemicals Initial Public Offering, says Nigerians and investors in the diaspora can subscribe through its digital and physical channels when the offer opens on Monday, Sept. 14.
The bank said in a statement on Saturday that its website, mobile app, internet banking, USSD, corporate internet banking and branches would serve as application channels.
It said the subscription would run for 30 days, from Monday, Sept. 14 to Oct. 13.
The statement reads: “Details contained in the offer prospectus indicate that shares are priced at ₦525 each, with a minimum subscription of 10 shares amounting to ₦5,250.
“The offer is expected to raise ₦2.15 trillion, representing the largest equity offering to be undertaken on the African continent.”
Zenith Bank said applications submitted via its platforms would be linked to investors’ Bank Verification Numbers (BVN), a seal of identity and security that accompanies each application from submission to allotment.
It added that investors could also subscribe at any of its branches nationwide.
The bank said retail investors who subscribe to the offer and hold their shares might qualify for bonus shares under the Retail Investor Incentive Programme, subject to regulatory approval.
It said the offer details, including eligibility and other terms, were contained in the prospectus and guided by applicable regulations.
The bank advised prospective investors to carefully read the prospectus and seek independent professional advice where necessary before making investment decisions.
It said that Quantum Zenith Capital and Investments Ltd. is among the joint issuing houses for the transaction, while Zenith Bank is serving as a receiving bank and electronic application channel for the offer.
