NNPCL Lists Partnership Areas As It Prepares To Sell Shares

The Nigerian National Petroleum Company Limited has announced its readiness to commence the highly anticipated listing on the capital market, by the Petroleum Industry Act 2021 provisions.

Naija News reports that the NNPCL Chief Corporate Communications Officer NNPC Ltd, Olufemi Soneye, made this known in a statement released on Thursday in Abuja.

Soneye said the Company’s Chief Finance and Investor Relations Officer, Olugbenga Oluwaniyi, hinted at the development during a consultative meeting with partners at the NNPC headquarters.

He listed the areas of partnership required to include Investor Relations, IPO Readiness Advisors, and Investment Bank Partners.

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He said the company with the best offer in terms of project partnership would be selected for each of the three categories.

He said NNPC Ltd was 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.

The statement added, “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.”