BREAKING: NNPCL READY TO SELL SHARES
Read Time:1 Minute, 12 Second
The Nigerian National Petroleum Company Limited (NNPCL) has announced that it is in the final stages of preparing for its highly anticipated listing on the capital market, as mandated by the Petroleum Industry Act 2021.
NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, made the announcement in a statement released on Thursday in Abuja.
Soneye mentioned that the company’s Chief Finance and Investor Relations Officer, Olugbenga Oluwaniyi, shared details of the development during a consultative meeting with partners at the NNPC headquarters.
He further explained that NNPC Ltd is currently engaging with potential partners in an initiative called the “NNPC Ltd. IPO Beauty Parade,” in line with capital market regulations, ahead of the Initial Public Offering (IPO).
“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 partnership needed, which include Investor Relations, IPO Readiness Advisors, and Investment Bank Partners.
He also mentioned that the company offering the best proposal in terms of project partnership would be chosen for each of the three categories.
An IPO (Initial Public Offering) is a public offering where a company sells its shares to institutional investors.
The Petroleum Industry Act (PIA) mandates that NNPC Ltd list its shares on the capital market, in accordance with the provisions of the Companies and Allied Matters Act of 1990.
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
0
0