10 Fintechs approved for sale of Dangote Refinery IPO shares

When subscriptions for the Dangote Petroleum Refinery and Petrochemicals nationalist connection unfastened on September 14, the shares volition beryllium disposable done the accustomed formed of Nigerian banks and stockbroking firms.

They volition besides beryllium disposable done 10 fiscal exertion companies, a class that had nary ceremonial relation successful Nigerian superior marketplace organisation 3 years ago.

The connection is the largest successful the country’s history. Some 4.1 cardinal mean shares are connected merchantability astatine ₦525 each, a rise of astir ₦2.15 trillion if afloat subscribed. The minimum subscription is 10 shares, oregon ₦5,250.

For astir of the past of the Nigerian superior market, they could not. Subscribing to a nationalist connection meant a narration with a stockbroking firm, a carnal form, and a moving cognition of an ecosystem that was ne'er explained to astir people. The constraint was seldom the money. It was the distribution.

The approved docket for this connection changes that arithmetic, and the fintech cohort is wherever the alteration is astir visible. This means that a nationalist connection tin present beryllium distributed by immoderate level with reach, provided it plugs into a licensed intermediary.

Here are 10 Fintechs you tin get the Dangote IPO connection starting September 14th.

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