The Nigerian National Petroleum Company Limited (NNPC Ltd) is in the final stages of preparing for its listing in the capital market (IPO), in line with the provisions of the Petroleum Industry Act (PIA) 2021.
According to a statement by Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd, the company’s Chief Finance and Investor Relations Officer (CFIO), Olugbenga Oluwaniyi, disclosed this during a consultative meeting with partners at the NNPC Towers in Abuja.
NNPC Ltd is currently engaging with potential partners in a process known as the “NNPC Ltd IPO Beauty Parade,” which aligns with capital market regulations ahead of its Initial Public Offering (IPO). The initiative aims to assess potential partners and explore how they can support the company’s transition into the public market.
Oluwaniyi highlighted key areas requiring partnerships, including Investor Relations, IPO Readiness Advisers, and Investment Banking. The company plans to select the best offers in terms of project partnerships for each of these categories.
An IPO allows a company to offer its shares to institutional investors and the general public. The PIA mandates NNPC Ltd to list its shares in the capital market in compliance with the Company and Allied Matters Act (CAMA) 1990.
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