The Nigerian National Petroleum Company Limited, NNPCL, ramping up its preparation to list in the stock market in sync with the provisions of the Petroleum Industry Act 2021.
Towards this end, the company says it is trying to access potential partners and determine in what ways they could be of support to the company.
Chief Corporate Communications Officer of NNPC Ltd, Olufemi Soneye, revealed the move in a statement issued in Abuja on Thursday.
According to Soneye, the Company’s Chief Finance and Investor Relations Officer, Mr Olugbenga Oluwaniyi, hinted at the development during a consultative meeting with partners at the NNPC Ltd headquarters.
Soneye said 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
Listing 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.
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.
