BusinessDay and Nairametrics, citing people familiar with transaction data, reported that Bamboo handled more than 600,000 subscription transactions worth about ₦99 billion in Dangote Refinery’s IPO, showing the scale of fintech participation. The refinery’s offer page says applications are still being checked and does not list final subscription totals, so it does not confirm the reported channel figures.
In BusinessDay’s selected-channel comparison, Bamboo’s reported value was just above Zenith Bank’s roughly ₦98 billion. The outlet listed FirstBank at about ₦60 billion, Chapel Hill at ₦57 billion and the Nigerian Exchange’s NGX Invest portal at ₦36.4 billion across about 60,000 transactions. BusinessDay said its figures covered selected channels, rather than all routes used for the offer.
BusinessDay and Nairametrics also reported online retail subscriptions above ₦860 billion, about 1.55 million unique online subscribers and roughly 2.2 million digital subscription transactions. The issuer’s offer page does not provide final totals for those measures.
Dangote Petroleum Refinery and Petrochemicals FZE offered 4.1 billion ordinary shares at ₦525 each. The minimum application was for 10 shares, or ₦5,250, and Nigerian Exchange Group said the offer was expected to raise about ₦2.15 trillion. The refinery said the offer opened Sept. 14 and closed Oct. 27.
Nigerian Exchange Group said its NGX Invest system connected the offer with more than 100 distribution routes, spanning stockbrokers, banks, fintechs and other financial firms. Temi Popoola, NGX Group’s group managing director and CEO, said the system made the offer available through services investors already use.
The Securities and Exchange Commission (SEC) directed investors to apply and pay through approved receiving channels. It said operating a website or app alone does not authorize a company to collect IPO applications or funds.
The refinery says it is checking applications and will publish allotment results after SEC approval. It has not given a date for the announcement.
