Zenith Bank Opens Digital, Branch Channels for Dangote Refinery IPO

 Zenith Bank Opens Digital, Branch Channels for Dangote Refinery IPO

....Zenith Bank Plc has opened its digital and physical banking channels to Nigerians at home and abroad seeking to subscribe to the Dangote Petroleum Refinery and Petrochemicals Initial Public Offering (IPO), positioning the lender as a key access point for the landmark share offer.

The bank, which is a receiving bank and designated electronic application channel for the offer, said investors can submit their applications through its website, mobile banking application, internet banking, USSD, corporate internet banking platforms and any of its branches nationwide.

With 456 branches and 84 cash centres across the country, Zenith Bank said its extensive network would enable investors to participate conveniently, securely and efficiently in the offer.

According to the terms of the IPO, subscription will open on Monday, September 14, 2026, and remain open for 30 days before closing on Tuesday, October 13, 2026.

The shares are being offered at ₦525 per share, with a minimum subscription of 10 shares, equivalent to ₦5,250.

The offer is targeting ₦2.15 trillion, which would make it the largest equity offering ever undertaken on the African continent.

The prospectus also provides for a Retail Investor Incentive Programme under which qualifying retail investors who subscribe to and hold their shares may receive bonus shares, subject to applicable regulatory approvals.

Zenith Bank said every subscription would be linked to the investor's Bank Verification Number (BVN), providing an additional layer of identification and security throughout the application and allotment process.

The bank noted that its digital infrastructure and nationwide branch network were designed to provide investors with multiple options for participating in the offer, whether from within Nigeria or from the diaspora.

Zenith Bank also pointed to its experience with its own recent public offering, which was executed predominantly through digital channels, as evidence of its capacity to process large-scale investment applications electronically.

The lender said its digital infrastructure has subsequently undergone further technological upgrades, strengthening its capacity to provide retail customers with seamless services.

Within the Dangote Refinery transaction, Quantum Zenith Capital & Investments Limited is among the joint issuing houses, while Zenith Bank is serving as a Receiving Bank and electronic application channel.

Zenith Bank said investors interested in participating in the offer can fund their accounts and submit their applications through its approved channels before the subscription deadline.

The bank, however, advised prospective investors to carefully study the offer prospectus and seek independent professional advice where necessary before making investment decisions.

It stressed that the terms and conditions of the offer remain subject to the prospectus and applicable regulatory requirements.