Investors seeking to subscribe to the Dangote Petroleum Refinery Initial Public Offering, IPO, can complete the process in less than two minutes through Fidelity Bank’s digital channels.
Fidelity Bank said it has provided multiple subscription options for existing customers, corporate organisations and non customers in Nigeria and abroad.
The available channels include the Fidelity Bank mobile app for iOS and Android users, the bank’s corporate online banking platform and designated branches nationwide.
A key feature of the subscription process is the provision of Virtual Accounts for investors who do not have accounts with Fidelity Bank.
Through the Virtual Account option, non customers in Nigeria and abroad can begin their subscription through the Fidelity Bank website, receive dedicated account details and fund their applications from an operational bank account.
The arrangement allows prospective investors to participate without opening a regular Fidelity Bank account. It also supports third party funded subscriptions and provides non customers with a digital route to the offer.
Existing retail customers can subscribe through the Fidelity Bank mobile app, while corporate customers can use the bank’s corporate online banking platform, subject to the applicable inputter and authoriser process.
Investors requiring assistance can visit any Fidelity Bank branch or contact Fidelity TrueServe on 070034335489, via WhatsApp on 09030005252, or email trueserve@fidelitybank.ng.
The bank said dedicated personnel are available round the clock to assist intending subscribers with the process.
Investors are required to provide relevant identification and account information. 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 are also expected to have an active operational account or online banking profile.
Investors without a Central Securities Clearing System, CSCS, account can also participate in the IPO. Fidelity Securities Limited can facilitate the opening of a stockbroking account to enable the electronic crediting of allotted shares after the allotment process.
Following successful authorisation of a subscription, the investor’s selected account will be debited, or the assigned Virtual Account will be funded, depending on the subscription method.
Investors will subsequently receive a confirmation message, transaction reference and receipt as evidence of their application.
Fidelity Bank said the initiative is part of its efforts to expand access to Nigeria’s capital market through simple, inclusive and technology driven investment solutions.
Prospective investors are advised to carefully review the approved Offer Prospectus before making any investment decision.
The prospectus contains details of the offer, including eligibility requirements, offer price, minimum subscription, permissible multiples, offer period and other applicable terms.