By Oke Peter
Prospective investors seeking to subscribe to the Dangote Refinery Initial Public Offering (IPO) have been advised to use only officially approved subscription channels to avoid falling victim to fraudulent or unauthorised intermediaries.
The warning comes as the official list of approved channels for subscribing to the Dangote Refinery IPO includes designated banks, issuing houses and registered stockbrokers.
Investors have been urged not to rely solely on the brand name of a broker or financial institution when making subscription decisions, but to confirm that the institution appears on the official list of approved channels.
According to the official Dangote Refinery IPO channel list, the approved banks are Access Bank, Citibank Nigeria, Ecobank Nigeria, Fidelity Bank, First Bank of Nigeria, First City Monument Bank, Globus Bank, Guaranty Trust Bank, Keystone Bank, Parallex Bank, Polaris Bank, Premium Trust Bank, Providus, Stanbic IBTC Bank, Standard Chartered Bank Nigeria, Sterling Bank, SunTrust Bank Nigeria, Union Bank, United Bank for Africa, Wema Bank and Zenith Bank.
The listed issuing houses include Vetiva Advisory Services, FirstCap, Stanbic IBTC Capital, Chapel Hill Denham Advisory, Absa Capital Markets Nigeria, Afrinvest Capital, CardinalStone Partners, Comercio Partners Capital, Cordros Advisory Services, Coronation Merchant Bank, Cowry Asset Management, Ecobank Development Company, FCMB Capital Markets, Finmal Finance Services, First Ally Advisory, FSDH Capital, Futureview Financial Services, Greenwich Capital, Meristem Capital, Quantum Zenith Capital & Investments, Quest Merchant Bank, Rand Merchant Bank Nigeria, Renaissance Securities, SCM Capital, Tiddo Securities and United Capital.
The official list also contains a broad range of approved stockbrokers, including Absa Securities Nigeria, Afrinvest Securities, Alpha10 Global Market, Anchoria Securities, Apel Asset, APT Securities & Funds, ARM Securities, Arthur Stevens Asset Management, Associated Asset Managers, Atlass Portfolio, Ava Securities, Bauchi Invest Corporation Securities, Belfry Investment & Securities, Bestworth Assets & Trust, BGL Securities, Blue Marina Securities, Calyx Securities, Camry Securities, Capital Assets, Capital Bancorp, Capital Express Securities, Capital Trust Brokers, CardinalStone Securities, Cashville Investments & Securities, CDL Capital Markets, Centre Point Investment, Century Securities, Chapel Hill Denham Securities, Chartwell Securities, Citi Investment Capital, City Code Trust & Investment Company, Compass Investments & Securities, Cordros Securities, Core Securities, Coronation Securities, Cowry Securities, Crane Securities, Crossworld Securities, Crown Capital and CSL Stockbrokers.
Investors are therefore advised to verify the credentials of any intermediary before transferring money or submitting subscription documents.
The warning is particularly important as interest in the Dangote Refinery IPO could create opportunities for individuals or entities to falsely present themselves as authorised agents.
Investors should cross-check any subscription channel against the official Dangote Refinery IPO platform before proceeding.
Source: Official Dangote Refinery IPO subscription channels — ipo.dangote.com/channels
