Flutterwave Opens Online Access to Dangote Refinery IPO at ₦525 Per Share
The offering provides investors with an opportunity to acquire shares in Dangote Refinery, which is described as Africa’s largest refinery, through a digital subscription process rather than a traditional paper-based application.
Flutterwave has announced that Nigerians can apply online to purchase shares in Dangote Petroleum Refinery and Petrochemicals FZE through its role as a licensed receiving agent for the company’s initial public offering (IPO).
The offer is priced at ₦525 per share, with investors required to purchase a minimum of 10 shares. This means Nigerians can apply with a minimum investment of ₦5,250. The offer is scheduled to close on 13 October 2026.
The share offer is available to Nigerians with a Bank Verification Number (BVN), with the application process designed to be completed online. Flutterwave is working with SEC-licensed stockbrokers, including Chapel Hill Denham, to facilitate the process.
Applicants are required to indicate the number of shares they wish to purchase and provide their BVN, next-of-kin details and the bank account where dividends or refunds will be paid. Investors with an existing Central Securities Clearing System (CSCS) or Clearing House Number (CHN) can provide those details, while applicants without one can have the required account created through the partner stockbroker.
After completing payment through bank transfer, the subscription is forwarded to the stockbroker. Following allotment, the shares will be registered in the investor’s name with CSCS, Nigeria’s central securities depository, and can be managed through the stockbroker.
Flutterwave said it is acting as a licensed receiving agent for the IPO, with investor funds held in a designated collection account separate from its operating funds before being transferred to the stockbroker’s offer account. The offering is regulated by the Securities and Exchange Commission (SEC).
The company is also making the offer accessible through several of its platforms. Businesses using Flutterwave for Business can access the Dangote Refinery share offer through their dashboards and pay using their existing balances.
Users of Send App can also purchase the shares through the platform, including Nigerians living abroad, while OWO by Mono users can apply through WhatsApp. The multiple channels are intended to make the share subscription accessible to individual investors, businesses and Nigerians in different locations.
The offering provides investors with an opportunity to acquire shares in Dangote Refinery, which is described as Africa’s largest refinery, through a digital subscription process rather than a traditional paper-based application.
