The Uganda Capital Markets Authority has approved the promotion, marketing and distribution in Uganda of the initial public offering by Dangote Petroleum Refinery and Petrochemicals FZE. The Nigerian offering remains under the supervision of the Securities and Exchange Commission Nigeria, which approved the prospectus. Ugandan distribution must be conducted through locally licensed intermediaries that have obtained the authority’s prior written no-objection. SBG Securities Uganda Limited is currently the only intermediary authorized to market and distribute the offer to eligible Ugandan investors. The approval does not endorse the issuer, securities or investment merits, and the authority has not approved the prospectus or independently assessed its disclosures. Investors are advised to consider the risks of foreign-listed securities, including foreign exchange, market, custody, taxation and investor-rights risks.
Uganda Capital Markets Authority approves local marketing and distribution of Dangote refinery IPO
The Uganda Capital Markets Authority has approved the local promotion and distribution of Dangote Petroleum Refinery and Petrochemicals FZE’s Nigerian IPO through authorized Ugandan intermediaries. SBG Securities Uganda Limited is currently the only approved distributor. The authority has not endorsed the investment or reviewed the Nigerian prospectus.