The Nigerian National Petroleum Company Limited (NNPCL) says it is now in the final points of preparing for its highly anticipated listing on the capital market, by the provisions of the Petroleum Industry Act 2021.
The NNPCL Chief Corporate Communications Officer NNPC Ltd, Olufemi Soneye, made this known in a statement released on Thursday in Abuja.
Soneye stated that the Company’s Chief Finance and Investor Relations Officer, Mr Olugbenga Oluwaniyi, said this during a consultative meeting with partners at the NNPC headquarters.
He noted that 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.
“According to the CFIO, 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,” the statement explained
He listed the areas of partnership required to include Investor Relations, IPO Readiness Advisors, and Investment Bank Partners.
He said the company with the best offer in terms of project partnership would 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.
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