Dangote IPO: Flutterwave joins other fintechs for digital participation

Flutterwave has joined other fintechs offering seamless digital participation in the Dangote Petroleum Refinery’s initial public offering, according to Tech Labari.

The offer, which opened September 14 at ₦525 per share with a minimum subscription of 10 shares, is being run as Nigeria’s first fully digital retail IPO, using investors’ Bank Verification Numbers as a single identifier across channels. Flutterwave is handling subscriptions through its web platform, Send App and Owo by Mono on WhatsApp, and is issuing microfinance accounts to unbanked investors solely for participation.

Payments flow through Chapel Hill Denham’s system, with shares registered via the Central Securities Clearing System. About 18 platforms, including Bamboo and InvestNaija, are hosting the offering, regulated by Nigeria’s Securities and Exchange Commission.