Nigeria: Dangote’s IPO overwhelms multiple investment platforms

Bamboo reported a tenfold increase in traffic within thirty minutes of the subscription opening. This surge disrupted its own systems as well as some services from third-party providers. The affected platforms had largely restored their services after the initial difficulties.

The offering consists of 4.1 billion shares priced at 525 naira each. The minimum subscription is set at ten shares, or 5,250 naira, making the entry cost just a few dollars and broadening access for retail investors.

Dangote’s IPOis touted as the largest public share offering ever launched in Africa. The group aims to attract a significant number of Nigerian savers to the stock market, with millions of subscriptions anticipated.

The Securities and Exchange Commission of Nigeria has urged investors to use only officially licensed agents and platforms. The regulator also recommends verifying the authenticity of links before sharing personal or financial information and to be wary of solicitations promising guaranteed allocations.

The subscription period is set to end on October 13, 2026. According to documents related to the offering shared by Reuters, the shares are expected to begin trading on the Nigerian Exchange by the end of November.