The Nigerian National Petroleum Company Limited (NNPC Ltd) is poised to make history by listing its shares on the capital market, in accordance with the Petroleum Industry Act (PIA) 2021.
At a consultative meeting with partners in Abuja, the Company’s Chief Finance and Investor Relations Officer, Mr. Olugbenga Oluwaniyi, revealed that NNPC Ltd is engaging with prospective partners in an exercise tagged “NNPC Ltd. IPO Beauty Parade”.
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The aim of the IPO Beauty Parade is to access potential partners and determine how they can support the company in areas such as Investor Relations, IPO Readiness Advisers, and Investment Bank Partners.
The company with the best offer in each category will be selected, paving the way for NNPC Ltd’s Initial Public Offer (IPO).
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This milestone listing is in line with the provisions of the Company and Allied Matters Act (CAMA) 1990, and marks a significant step towards NNPC Ltd’s transformation into a commercially viable and sustainable energy company.
The listing is expected to promote transparency, accountability, and good corporate governance, while also providing opportunities for Nigerians to invest in the company.