The Nigerian National Petroleum Company Limited (NNPC Ltd) is nearing the completion of its listing process in the capital market, in accordance with the Petroleum Industry Act (PIA) 2021.
During a consultative meeting with partners at the NNPC Towers in Abuja on Thursday, the Company’s Chief Finance and Investor Relations Officer (CFIO), Mr. Olugbenga Oluwaniyi, revealed that NNPC Ltd is currently engaging with prospective partners through an initiative called the “NNPC Ltd. IPO Beauty Parade.” This initiative is part of the preparations leading up to the upcoming NNPC Ltd initial public offer (IPO).
Read Also: President Tinubu to Mark 73rd Birthday with Special Prayer at Abuja National Mosque – Invites Nigerians
According to Mr. Oluwaniyi, the initial public offer Beauty Parade aims to identify potential partners and explore how they can contribute to the company’s success. He outlined key areas of partnership that are needed, including Investor Relations, IPO Readiness Advisers, and Investment Bank Partners.
The company that presents the best partnership proposal will be chosen for each of these categories.
An IPO represents a public offering where shares of the company are made available to institutional investors.
The PIA mandates that NNPC Ltd list its shares on the capital market, ensuring compliance with the Company and Allied Matters Act (CAMA) 1990.
