Public Offers

What this is

From time to time a company sells its shares to the public. That is called a public offer. It is open for a set number of days, and anyone who qualifies may apply to buy shares during that period.

Networth Securities & Finance Limited now accepts these applications online, through our portal. You fill a short form and pay from your own bank. If shares are allotted to you, they are recorded in your own name. Applying does not guarantee that you will receive shares, and nobody can tell you in advance how many you will receive.

Who can use it

You will need a Bank Verification Number (BVN) and a Nigerian bank account. You do not have to be an existing client of Networth. The portal is for individuals, and for a parent or guardian applying for a child under 18. A company or a joint account cannot apply on it: call us on +234 (0) 201 291 2808 and we will tell you what options are available. Each offer sets its own rules, such as the smallest number of shares you may apply for, and those rules are in the offer document. Please read it before you apply.

If you are already our client

Go to the portal and apply with your BVN.

If you are new to Networth

You can still apply. Once you have paid, you become our client, and the law requires us to know who you are. We will contact you and ask you to complete our account opening form. You will need:

• A valid means of identification.
• A passport photograph.
• Proof of your address.
• Your signature.
• Your BVN.

You do not have to wait for us. You can complete the form now: type www.networthsec.com into your browser yourself, open the menu Open An Account and choose Individual Account, or Minor Account for a child.

We use these documents only to identify you and to meet our duties under Nigerian law and the rules of the Securities and Exchange Commission. We do not use them for marketing and we do not sell them to anybody. You may ask us what we hold about you.

How you pay

When you submit the form, the portal shows you how to pay and the exact amount. Pay straight away from your own bank app, while the portal page is still open, exactly as that page tells you. Then tell the portal you have sent the money. If the portal does not confirm your payment, do not pay again. Call us on +234 (0) 201 291 2808.

Before you confirm a transfer, look at the account name your bank app shows. If it is a person’s name, stop. Do not send the money. Call us on +234 (0) 201 291 2808. A company name on its own does not prove the payment is safe, because a fake portal can show a company account too. Pay only on a portal page whose address you have checked letter by letter.

Nobody from Networth will ever ask you for your bank password, your PIN or your one time password (OTP), by phone, email or message.

Pay before the offer closes. If you are unsure of the closing time, call us before you pay.

What happens after you pay

We check your payment against your application. If you are new to Networth, we then contact you about our account opening form.

When the offer closes, shares are shared out according to the rules in the offer document, and any shares allotted are recorded in the name of the person they were applied for. Money for shares you do not receive is returned as the offer document sets out.

We cannot tell you in advance how many shares you will receive. Nobody can.