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NNPCL To Begin Sale Of Shares
The Nigerian National Petroleum Company Limited (NNPCL) has disclosed that it is now nearing the completion of preparations for its eagerly awaited listing on the capital market, in accordance with the Petroleum Industry Act 2021.
The Chief Corporate Communications Officer of NNPC Ltd, Olufemi Soneye, announced this in a statement issued on Thursday in Abuja.
Soneye mentioned that the Company’s Chief Finance and Investor Relations Officer, Mr. Olugbenga Oluwaniyi, alluded to this progress during a consultative meeting with partners at the NNPC headquarters.
He stated that NNPC Ltd is presently engaging with potential partners in an initiative referred to as the “NNPC Ltd. IPO Beauty Parade” in accordance with capital market regulations prior to the launch 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 outlined the key areas of collaboration needed, which encompass Investor Relations, IPO Readiness Consultants, and Investment Banking Partners.
He mentioned that the company presenting the most advantageous proposal for project collaboration would be chosen for each of the three categories.
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An IPO refers to a public offering where a company’s shares are made available to institutional investors.
The PIA allows for NNPC Ltd to list its shares on the capital market in accordance with the stipulations of the Company and Allied Matters Act of 1990.
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