By Tochukwu Bliss, Abuja
The Nigerian National Petroleum Company Limited (NNPC Ltd), yesterday, finally announced its preparedness to be listed in the capital market.
“The Nigerian National Petroleum Company Limited (NNPC Ltd) is at the final stage of getting listed in the capital market, in keeping with the provisions of the Petroleum Industry Act (PIA) 2021,” the statement said.
A statement by NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, quoted the Company’s Chief Finance and Investor Relations Officer (CFIO), Olugbenga Oluwaniyi, as noting that this decision aligns with the provisions of the Petroleum Industry Act (PIA) 2021.
He also informed that “The PIA provides for NNPC Ltd to list its shares in the capital market in line with the provisions of the Company and Allied Matters Act (CAMA) 1990.”
Mr Oluwaniyi said the proposed listing was the outcome of a consultative meeting with partners at the NNPC Towers in Abuja on Thursday.
also revealed the NNPC is 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 (IPO).
He explained that the meeting was aimed at assessing the potential partners and determine how they can support the Company, particularly in terms of investor relations, IPO readiness advisers, and investment bank partners.
According to him, NNPC, with the best offer in terms of project partnership would be selected for each of the three categories.
The PIA provides for NNPC Ltd to list its shares in the capital market in line with the provisions of the Company and Allied Matters Act (CAMA) 1990.
