How to Invest in Dangote Refinery IPO From France

How to Invest in the Dangote Refinery IPO From France

The Dangote Refinery IPO — the largest initial public offering in African history — is now open for subscription, and eligible investors based in France can participate through Daba, funding their account in Euros, entirely online.

With an offer price of ~$0.40 per share, a base offer size of 4.1 billion shares, and a subscription window running from September 14 to October 13, 2026, this represents a rare opportunity for French investors to access the Nigerian Exchange without the traditional barriers.

Why French Investors Have Been Locked Out Until Now

France has deep economic and cultural ties to West Africa, yet investing directly in Nigerian listed equities has been remarkably difficult for French residents. A Nigerian bank account, a BVN (Bank Verification Number), and a personal CSCS account were all required — none of which are practical to obtain from France.

Daba was built to solve this. Through its international Nigeria-market channel, powered by a partnership with Coronation Group (Coronation Merchant Bank and Coronation Securities are issuing houses on this IPO), eligible investors outside Nigeria can subscribe digitally — no Nigerian bank account, no BVN, no CSCS account.

For French investors already familiar with Daba’s BRVM (Bourse Régionale des Valeurs Mobilières) access, the Nigeria-market channel extends the same platform to the Nigerian Exchange.

Step-by-Step: How to Invest From France

1. Create Your Daba Account Sign up on the Daba app or web platform. Individual and business/entity accounts are both supported.

2. Complete KYC Verification Individual KYC is fully digital and typically takes under five minutes. You will need a valid government-issued ID (French passport, carte nationale d’identité, or permis de conduire) and a selfie.

3. Fund Your Account in EUR Daba accepts Euro deposits. Since the Dangote IPO is denominated in Nigerian naira, you will deposit in EUR and convert to NGN inside the app. The swap is instant and uses the rate provided by Daba’s FX partners. Funding ahead of time means your naira balance is ready when you choose to subscribe.

4. Subscribe to the Dangote IPO Navigate to the Invest tab, select IPOs, open the Dangote Refinery IPO listing, review all offer documentation, enter your subscription amount (minimum 10 shares / ~$4.00 at the offer price), and confirm.

5. Allotment and Tracking After the subscription period closes, allocations are determined under the SEC-Nigeria-approved prospectus. Shares are credited to your Daba account once allotment is complete.

Key Details for French Investors

• Offer price: ~$0.40 per share
• Minimum investment: 10 shares (~$4.00, before conversion or transaction costs)
• Funding currency: EUR — deposit in euros, swap to naira in-app
• No Nigerian bank account, BVN, or CSCS account required
• Subscription window: September 14 – October 13, 2026
• Shariah compliance: Buraq Capital’s assessment found the ordinary shares permissible under Shariah

Eligibility, Compliance, and Important Disclosures

Participating in a foreign securities offering from France may involve obligations under French financial regulations, AMF (Autorité des Marchés Financiers) rules, and French tax reporting requirements. You are responsible for understanding and complying with all applicable regulations in your jurisdiction. Consult a qualified adviser if you have any doubts about your eligibility or obligations.

Daba does not provide tax, legal, or investment advice. Allocation is not guaranteed — in the event of oversubscription, you may receive fewer shares than you requested. Investing carries risk, including loss of principal and currency risk when converting between EUR and NGN.

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

Read the Full Offer Documentation

All FAQs, disclosures, and offer documents are available on the Dangote Refinery IPO listing inside the Daba platform and on the Daba Dangote Refinery IPO Hub. Review everything carefully before subscribing.

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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.