BVM extends subscription period for Dangote Refinery's IPO

The Mozambique Stock Exchange (BVM) informs that the subscription period for the Public Subscription Offer (OPS) of Dangote Petroleum Refinery and Petrochemicals FZE has been extended until October 27, 2026, after originally running from September 14 to October 13.

The operation is led by the Nigerian Stock Exchange and falls within the cooperation and integration initiatives of the capital markets of the Southern African Development Community (SADC) region, being promoted in conjunction with the Committee of SADC Stock Exchanges (CoSSE).

According to the BVM statement, CoSSE, in coordination with the Botswana Stock Exchange, has structured an accession model that allows investors to participate in the markets of their respective members — including Mozambique.

Participation by domestic investors is subject to the subscription procedures, eligibility requirements, and other conditions set out in the offer announcement. Interested parties should contact a financial intermediary to obtain information on participation procedures and formalization of subscription instructions.

According to the BVM (Mozambique Stock Exchange), the extension aims to provide interested investors with an additional period to analyze the information made available about the public offering and to submit their subscription instructions, under the terms and conditions applicable to the operation.

Within the framework of the operational coordination model established for the Mozambican market, SL Capitais – Sociedade Financeira de Corretagem, SA will be the entity responsible for receiving and centralizing subscription orders submitted by other participating financial intermediaries, as well as for submitting them to the Botswana Stock Exchange.

Participating financial intermediaries must ensure that their clients' orders are forwarded to SL Capitais, observing the procedures, submission deadlines, and documentary requirements applicable to the offer.

Given that the operation involves payments and receipts abroad, investors should observe the applicable foreign exchange procedures, in accordance with current legislation and regulations, obtaining the necessary clarifications from their financial intermediary regarding the procedures to be adopted.

The BVM reiterates the importance of access to complete, clear and timely information as an essential condition for investment decision-making, recommending consultation of the offer launch announcement and the respective information documentation, paying particular attention to the conditions of participation, the risks associated with the investment, the payment procedures and the new subscription deadline.