The Nigerian National Petroleum Company Limited (NNPCL) has revealed that preparation for its listing on the capital market, according to the provisions of the Petroleum Industry Act (PIA) 2021, have now reached an advanced stage.
Chief Corporate Communications Officer of the company, Olufemi Soneye, made the announcement in a statement released on Thursday in Abuja.
Soneye said the Company’s Chief Finance and Investor Relations Officer, Olugbenga Oluwaniyi, had disclosed the development during a consultative meeting with partners at the NNPC headquarters.
He also said NNPC Ltd was currently engaging with prospective partners in an exercise tagged, “NNPC Ltd. IPO Beauty Parade” in line with capital market regulations before the commencement of the Initial Public Offer.
Soneye quoted the According to the CFIO, to have said that the aim of the IPO Beauty Parade is to access potential partners and determine in what ways they could be of support to the company.
He listed the areas of partnership required to include Investor Relations, IPO Readiness Advisors, and Investment Bank Partners.
Soneye also stated that the company with the best offer in terms of project partnership would be selected for each of the three categories.
The PIA provides for the NNPC Ltd to list its shares in the capital market in line with the provisions of the Company and Allied Matters Act 1990.
