How to Invest in Dangote Refinery IPO From the United States

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

The Dangote Refinery IPO is now live — and for the first time, eligible investors in the United States can participate in what is shaping up to be the largest IPO in African history, directly from their phone or browser, without needing a Nigerian bank account.

The approved public offer is priced at ₦525 per share (approximately $0.40), with a minimum subscription of just 10 shares. The subscription window runs from September 14 to October 13, 2026, with the possibility of an earlier close if the offer is oversubscribed.

Here is how US-based investors can subscribe through Daba.

Why US Investors Historically Couldn’t Access Nigerian IPOs

Investing in Nigerian public offers from abroad traditionally required a Nigerian bank account, a Bank Verification Number (BVN), a personal CSCS account, and considerable cross-border paperwork. In practice, most international investors — including those in the US — were simply locked out.

Daba exists to solve this problem. Through its international Nigeria-market channel, powered by a strategic partnership with Coronation Group (whose Coronation Merchant Bank and Coronation Securities are issuing houses on this very IPO), eligible investors can subscribe without a Nigerian bank account, BVN, or personal CSCS account.

Step-by-Step: How to Invest in Dangote IPO From the US

1. Create Your Daba Account Sign up in minutes on the Daba app or web platform. Both individual and business accounts are supported.

2. Complete KYC Verification KYC for individuals is fully digital and typically takes under five minutes. You will need a valid government-issued ID (US passport or driver’s license) and a selfie for identity matching.

3. Fund Your Account in USD Daba accepts deposits in US Dollars. Since the Dangote IPO is denominated in naira, you will deposit USD and then swap to NGN inside the Daba app. The conversion is executed at the rate provided by Daba’s FX partners at the time of your swap.

4. Subscribe to the IPO Once verified and funded, tap the Invest button, select IPOs, choose the Dangote Refinery IPO listing, review the offer documentation in full, enter your subscription amount (minimum 10 shares / ₦5,250), and confirm.

5. Allotment and Tracking After the subscription window closes, allocations are determined under the terms of the SEC-Nigeria-approved prospectus. Once allotment is completed, shares are credited to your Daba account, where you can monitor your position.

Key Details for US Investors

• Offer price: ₦525 per share ($0.40)
• Minimum investment: 10 shares (₦5,250, before conversion or transaction costs)
• Funding currency: USD — deposit in dollars, 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

Participation in a foreign securities offering from the United States may be subject to US federal and state regulations, including SEC rules, tax reporting obligations, and FBAR/FATCA requirements for foreign financial accounts. You are responsible for understanding and complying with the laws of your jurisdiction. If in doubt, consult a qualified legal or tax adviser before subscribing.

Daba does not provide tax, legal, or investment advice. Allocation is not guaranteed — in the event of oversubscription, you may receive fewer shares than requested. Investing involves risk, including the possible loss of principal and currency risk on funds converted from USD to naira.

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

Read Everything Before You Subscribe

The full offer documentation, FAQs, and disclosures are available on the Dangote Refinery IPO listing inside the Daba platform and on the Daba Dangote Refinery IPO Hub. Read them in full before subscribing — an informed investment is the only kind worth making.

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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.