Dangote Refinery IPO: Subscribe in Under 2 Minutes Through Fidelity Bank

Investors seeking to participate in the Dangote Petroleum Refinery IPO can complete their subscription in under two minutes through Fidelity Bank’s digital channels, as the lender rolls out multiple options for customers and non-customers in Nigeria and abroad.

The subscription channels are designed to make participation in the offer easier and more accessible. They include the Fidelity Bank iOS and Android Mobile Apps, the Bank’s corporate banking platform and designated branches nationwide.

A key feature of the arrangement is the Virtual Account option, which allows investors who do not have Fidelity Bank accounts to submit their IPO applications.

Through the option, non-Fidelity Bank customers in Nigeria and abroad can initiate their subscriptions via the Fidelity Bank website. They are then provided with dedicated Virtual Account details, which can be funded from an operational bank account.

Importantly, investors do not have to open a regular Fidelity Bank account before using the Virtual Account option. The facility also supports third-party funded subscriptions, giving non-customers another convenient route to participate in the offer.

Fidelity customers can subscribe digitally

Existing retail customers can complete their subscriptions through the Fidelity Bank Mobile App on iOS and Android devices.

Corporate customers, meanwhile, can use the Bank’s corporate online banking platform. The process is subject to the applicable inputter and authoriser requirements.

For investors who require additional assistance, support is available through Fidelity TrueServe. The Bank can be reached on 070034335489, via WhatsApp on 09030005252, or by email at trueserve@fidelitybank.ng.

According to the Bank, dedicated personnel are available around the clock to assist intending subscribers and help ensure a seamless subscription process.

Identification and account requirements

Investors are expected to provide the relevant identification and account details when subscribing.

Depending on the investor and subscription channel, these may include a Bank Verification Number (BVN) for non-Fidelity Bank account holders and a National Identification Number (NIN) for minors.

Fidelity Bank customers may also need an active operational account or online banking profile to complete their applications.

Investors without CSCS accounts can participate

Investors who do not already have a Central Securities Clearing System (CSCS) account can also participate in the IPO.

A stockbroking account may be opened through Fidelity Securities Limited to facilitate the electronic crediting of allotted shares after the allotment process.

Once a subscription has been successfully authorised, the investor’s selected account will be debited. Where the Virtual Account option is used, the assigned account will instead be funded as applicable.

The investor will subsequently receive a confirmation message, transaction reference and receipt as evidence of the application.

The initiative further reflects Fidelity Bank’s effort to widen access to Nigeria’s capital market through simpler, more inclusive and technology-driven investment channels.

However, prospective investors are advised to carefully review the approved Offer Prospectus before making an investment decision.

The prospectus contains important information, including the applicable eligibility conditions, offer price, minimum subscription requirement, permissible multiples, offer period and other terms governing the IPO.

Investors should therefore rely on the approved offer documents and consider their investment objectives before subscribing.