Business
Who can take part in Dangote refinery offer in Uganda?
The CMA set out the restriction in a public notice, saying: “The marketing and distribution of the offer shall be restricted to high net worth individuals and professional investors,” the notice states.
Aliko Dangote. (File photo)
By: Ali Twaha, Journalist @New Vision
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Only high net worth individuals and professional investors can take part in the Dangote Petroleum Refinery and Petrochemicals FZE initial public offering in Uganda, according to the Capital Markets Authority (CMA).
The CMA set out the restriction in a public notice, saying: “The marketing and distribution of the offer shall be restricted to high net worth individuals and professional investors,” the notice states.
“The offer shall not be promoted through indiscriminate advertising, mass solicitation, or any other means directed at members of the general public.”
CMA notice does not define high net worth individual and does not set a shilling or share threshold for this offer.
CMA notice does not define high net worth individual and does not set a shilling or share threshold for this offer.
In Nigeria, the offer itself is open more widely, including to retail investors, with a reported minimum application of 10 shares. Some Nigerian subscription channels treat larger applicants, including those seeking 50,000 shares or more, as qualified or high net worth applicants.
Anyone wishing to participate must do so only through a market intermediary licensed by CMA and authorised for this transaction. As of the date of the notice on October 6, only SBG Securities Uganda Limited holds the license for this offer.
The offer opened on September 14, 2026 and closes on October 13, 2026. CMA said the public would be notified if any other licensed intermediary is later authorised.
In a statement, SBG Securities confirmed that it is facilitating access under the mandate cleared by CMA. The firm said its role is limited to distributing the approved offer documents and supporting eligible investors who express interest within Uganda.
Anyone wishing to participate must do so only through a market intermediary licensed by CMA and authorised for this transaction. As of the date of the notice on October 6, only SBG Securities Uganda Limited holds the license for this offer.
The offer opened on September 14, 2026 and closes on October 13, 2026. CMA said the public would be notified if any other licensed intermediary is later authorised.
In a statement, SBG Securities confirmed that it is facilitating access under the mandate cleared by CMA. The firm said its role is limited to distributing the approved offer documents and supporting eligible investors who express interest within Uganda.