Financial Securities Exchange has extended the settlement arrangements for eligible subscriptions under the Dangote Petroleum Refinery share offer in Zimbabwe, giving investors additional time to complete payments and processing.
In a notice issued on October 16, 2026, FINSEC said the arrangement allows settlement within two business days following allotment, comprising allotment day and two subsequent business days.
“This provides additional time for subscription processing and the subsequent transmission of funds through the authorised transaction channels,” the notice said.
The subscription closing date remains October 27, 2026, with eligible investors able to submit applications through designated FINSEC-facilitated channels, subject to the relevant application requirements and published cut-off times.
The exchange said the settlement arrangement does not change the closing date or announce a further extension.
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The offer is being facilitated through the proposed Botswana Depository Receipt framework, which allows investors in Southern Africa to invest in Nigeria’s Dangote Petroleum Refinery using local market infrastructure.
FINSEC said the arrangements followed engagements involving the Committee of SADC Stock Exchanges, the Dangote Group and the Botswana Stock Exchange, aimed at facilitating orderly participation by investors across Southern Africa.
“Investors are encouraged to complete their application documentation and applicable verification requirements promptly,” the notice said.
It also cautioned investors to remit funds only in accordance with verified official instructions, adding that subscription acceptance, payment instructions, allotment, settlement and any subsequent BDR issuance remain governed by official offer documents, regulatory requirements and authorised transaction parties.
FINSEC is Zimbabwe’s licensed Alternative Trading Platform, regulated by the Securities and Exchange Commission of Zimbabwe.
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