CAPITAL MARKETS AUTHORITY APPROVES OFFER OF DANGOTE PETROLEUM REFINERY AND PETROCHEMICALS FZE INITIAL PUBLIC OFFERING IN UGANDA

The Capital Markets Authority (CMA) Uganda has approved the promotion, marketing and distribution of the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP), in Uganda, in line with the required procedure under the Capital Markets Authority Act, Cap 64. The approval was granted following consideration of an application submitted on behalf of Dangote Petroleum Refinery and Petrochemicals FZE by Stanbic IBTC Capital Limited seeking authorization to promote, market and distribute the IPO in Uganda.
The IPO originates from Nigeria and is being conducted under the applicable laws and regulatory framework of the Federal Republic of Nigeria .It therefore falls within the supervisory jurisdiction of the Securities and Exchange Commission, Nigeria (SEC Nigeria); which has approved the prospectus relating to the securities being offered under the IPO.
As part of the approval conditions, CMA Uganda has required that all promotional, marketing, and distribution activities pertaining to the IPO be conducted exclusively through intermediaries licensed by CMA Uganda, who must first obtain the Authority's prior written no-objection before undertaking any distribution activities relating to the offer.
The conditions imposed by CMA Uganda are intended to ensure that participation by Ugandan investors takes place through a regulated framework and via market intermediaries licensed by CMA Uganda, with appropriate capacity and arrangements to handle investor funds, anti-money laundering compliance, post-offer investor services and regulatory reporting required in this particular transaction.
CMA Uganda confirms that so far, it has authorized SBG Securities Uganda Limited to market and distribute the offer to eligible investors in Uganda. Any additional future authorization granted to other licensed intermediaries will be communicated to the public.
CMA Uganda emphasises that its approval of the IPO in Uganda does not constitute approval or endorsement of DPRP, the IPO, the securities being offered, or the investment merits of the offer. CMA Uganda has not approved the prospectus to which the offer relates, or independently assessed accuracy and comprehensiveness of the disclosures therein, or the commercial merits or expected performance of the proposed investment.
DPRP and other entities involved in the custody and execution arrangements related to the IPO in Nigeria are not licensed or supervised by CMA Uganda. Investors are therefore strongly encouraged to seek independent professional advice Investors and further to carefully review the offer documentation and among other matters, understand the risks associated with investing in securities listed in a foreign jurisdiction, including foreign exchange risk, market
risk, custody and omnibus-account arrangements, taxation considerations and the applicable mechanisms for exercising investor rights.
Stakeholders seeking additional information regarding the approval are advised to refer to the Public Notice issued by the Authority, which contains details of the approval, applicable conditions and additional investor guidance. The notice is available on the CMA Uganda' website: www.cmauganda.co.ug.
About the Capital Markets Authority
The Capital Markets Authority (CMA) is Uganda's statutory regulator of the capital markets. The Authority is mandated to regulate and promote the development of an orderly, fair and efficient capital market while protecting investors and promoting confidence in Uganda's capital markets.
In carrying out its mandate, CMA licenses and supervises capital markets intermediaries, oversees securities offerings and other regulated capital markets activities, promotes investor education and market development, and cooperates with regulatory authorities in other jurisdictions in relation to cross-border capital markets activities
For further information, contact:
Communications and Public Relations Manager, Capital Markets Authority Uganda
Email: [email protected] | Tel: 256-414-342788/91 | +256- 312-264950/1
Toll Free: 0800100031 www.cmauganda.co.ug X CmaUganda in capitalmarketsauthority-uganda
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