How to Invest in Dangote Refinery IPO From the United Kingdom

How to Invest in the Dangote Refinery IPO From the United Kingdom

Africa’s largest-ever IPO is now open for subscription — and eligible investors in the United Kingdom can participate directly through Daba, funding their account in British Pounds, without ever needing a Nigerian bank account.

The Dangote Refinery IPO is priced at ₦525 ($0.40) per share, with a base offer of 4.1 billion ordinary shares. The subscription window runs from September 14 to October 13, 2026, with the potential for an earlier close if the offer is oversubscribed. The minimum subscription is just 10 shares.

For UK investors interested in gaining exposure to one of Africa’s most significant industrial assets, here is how to get started.

The Barrier That Kept UK Investors Out — and How Daba Removes It

Nigerian public offers have historically been inaccessible from the UK. Subscribing required a Nigerian bank account, a Bank Verification Number, a personal CSCS (Central Securities Clearing System) account, and coordination across time zones and regulatory systems. For most UK-based investors, the process was simply not viable.

Daba’s international Nigeria-market channel changes that. Powered by a partnership with Coronation Group — whose Coronation Merchant Bank and Coronation Securities are issuing houses on the Dangote Refinery IPO — Daba enables eligible investors outside Nigeria to subscribe fully digitally, from any device.

Step-by-Step: How to Invest From the UK

1. Create Your Daba Account Register on the Daba app or web platform. Individual and business accounts are both available (business accounts are web-only and involve a more detailed KYB review).

2. Complete KYC Verification For individuals, KYC is digital and takes under five minutes. You will need a valid government-issued ID — a UK passport or driver’s licence works — and a selfie for identity matching.

3. Fund Your Account in GBP Daba supports deposits in British Pounds. Because the Dangote IPO is naira-denominated, you deposit in GBP and then swap to NGN within the Daba app. The conversion uses the rate provided by Daba’s FX partners at the time of the swap. Funding in advance ensures your naira balance is ready when you decide to subscribe.

4. Subscribe to the Dangote IPO Once your account is verified and funded, navigate to the Invest tab, select IPOs, open the Dangote Refinery IPO listing, review the full offer documentation, enter your subscription (minimum 10 shares / ₦5,250), and confirm.

5. Allotment and Portfolio Tracking After the window closes, allocations are determined per the SEC-Nigeria-approved prospectus. Once allotment is complete, shares are credited to your Daba account and visible alongside the rest of your portfolio.

Key Details for UK Investors

• Offer price: ₦525 per share ($0.40)
• Minimum investment: 10 shares (₦5,250, before conversion or transaction costs)
• Funding currency: GBP — deposit in pounds, swap to naira in-app
• No Nigerian bank account, BVN, or CSCS account required
• Subscription window: September 14 – October 13, 2026

Eligibility, Compliance, and Important Disclosures

Participating in a foreign securities offering from the UK may trigger obligations under UK financial regulations, HMRC tax reporting rules, and any applicable FCA guidance. You are responsible for understanding and complying with the regulations of your jurisdiction. If you are unsure about your obligations, consult a qualified financial or tax adviser before subscribing.

Daba does not provide tax, legal, or investment advice. Allocation is not guaranteed. Investing involves risk, including the possible loss of principal and currency risk when converting between GBP and Nigerian naira.

Eligibility is subject to your country of residence and applicable local regulations.

Do Your Due Diligence

The complete FAQs, disclosures, and offer documentation are available on the Dangote Refinery IPO listing inside Daba and on the Daba Dangote Refinery IPO Hub. Read everything before you subscribe.

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Get the Daba app | Open Daba on the web | Visit the Dangote IPO Hub

Nothing on this page constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation to invest in any security. Participation is available to eligible investors only and subject to applicable regulations, eligibility requirements, and the terms of the offer documentation. Investing involves risk, including the possible loss of principal, as well as currency risk on non-naira funds converted to subscribe. Read all FAQs, disclosures, and offer documentation on the listing before subscribing, and make sure you understand the risks. Daba does not provide tax, legal, or investment advice. Capital at risk.