Anchoria
Anchoria
Capital Group
Regulated by the SEC, Nigeria
Nigeria's biggest offers · First come, first owned

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Dangote Refinery IPO

Frequently asked questions

Everything you need to know before you subscribe — straight from the official fact sheet.

Download the full fact sheet (PDF)
What is an IPO? +

An Initial Public Offering (IPO) is the process by which a company offers its shares to the public for the first time and becomes listed on a stock exchange.

Why should I invest in an IPO? +

An IPO provides an opportunity to acquire shares in a company at the offer price before or as the company becomes publicly traded. However, investing in an IPO carries investment risk, and returns are not guaranteed.

Who can participate in the IPO? +

Eligibility depends on the terms and conditions stated in the Prospectus/Offer Document. Eligible investors may include individuals, institutions and other qualifying investors.

How do I subscribe for the IPO? +

Eligible investors can subscribe through Anchoria. Visit invest.anchoriaonline.com.

Can I participate if I do not have a CSCS account? +

This depends on the structure and requirements of the particular IPO. In this case a CSCS account is mandatory — you'll need to have one created. If you don't have one, visit invest.anchoriaonline.com to create one.

What is the minimum amount I can invest? +

The minimum subscription amount varies from one IPO to another. Minimum subscription for the Dangote Refinery IPO is 10 offer shares, and multiples of 10 offer shares thereafter.

Can I subscribe for more than the minimum amount? +

Yes, subject to the terms of the offer and any applicable maximum subscription limits.

What happens after I submit my subscription? +

Your subscription will be processed and reconciled with other valid applications. Once the offer closes and the allotment process is completed, successful applicants will receive the number of shares allotted to them upon SEC approval.

What happens if the IPO is oversubscribed? +

If total valid applications exceed the shares available, the shares will be allotted in accordance with the applicable allotment rules disclosed in the Offer Document and approved by the relevant authorities.

Will I automatically receive the number of shares I subscribed for? +

Not necessarily. Where an IPO is oversubscribed, investors may receive fewer shares than the quantity they applied for, depending on the approved allotment methodology.

When will I know my allotment? +

The allotment will be completed after the offer closes and the relevant reconciliation and approval processes have been concluded. The timeline will be communicated in accordance with the terms of the offer.

Where will my allotted shares be credited? +

Subject to the structure of the offer and successful processing, allotted shares will be credited to the investor's designated CSCS account.

What happens if I am not allotted any shares? +

Where applicable, the amount relating to the unallotted portion of your subscription will be refunded in accordance with the terms and timeline of the offer.

Can I sell my shares immediately after allotment? +

Once the shares are admitted/listed for trading and become available for sale, you may be able to sell them through your stockbroker, subject to applicable market rules and procedures.

Can the share price increase after listing? +

Yes. Once listed, the market price may rise or fall depending on demand, supply, company performance, market conditions and other factors. Past performance or an IPO offer price does not guarantee future returns.

Is an IPO risk-free? +

No. An IPO is an investment and carries risks, including the possibility of losing part or all of your invested capital.

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Last step before you're in.

Two last things — your CSCS account, and where your dividends land.

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🏦 Bank account

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Your dividends will be paid straight into this account.

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