The Nigerian National Petroleum Company Limited (NNPC L) is at the final stage of getting listed in the capital market, in keeping with the provisions of the Petroleum Industry Act (PIA), 2021.
This was disclosed in a statement by Olufemi Soneye, Chief Corporate Communications Officer
NNPC L.
Already, the statement disclosed that the company’s Chief Finance and Investor Relations Officer, Mr. Olugbenga Oluwaniyi, held a consultative meeting with partners at the NNPC Towers, Abuja, on Thursday.
He said the NNPC Limited is currently engaging with prospective partners in an exercise tagged: “NNPC Limited IPO beauty parade” in line with capital market regulations before the commencement of the Initial Public Offer (IPO).
The statement said the aim of the IPO beauty parade, is to access potential partners and determine in what ways they can be of support to the company.
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He listed the areas of partnership required to include: investor relations, IPO readiness advisers, and investment bank partners.
Sonete said the company with the best offer in terms of project partnership, will be selected for each of the three categories.
An IPO is a public offering in which shares of a company are sold to institutional investors.
The PIA provides for the NNPC Limited to list its shares in the capital market in line with the provisions of the Company and Allied Matters Act (CAMA),1990.
Olufemi O. Soneye
Chief Corporate Communications Officer
NNPC Ltd.
Abuja.
