NNPC to make a Public Public Offering

Nigerian National Petroleum Company (NNPC) Limited has announced its readiness to the capital market with the initial public offering (IPO) now in the final stage.

Financial Relations Officers and Corporate Investor (CFIO), Mr. Olugbenga Oluwaniyi, revealed this at a consultative meeting with partners at NNPC Towers, Abuja, on Thursday.

He said the move was in line with the provisions of the Oil Industry Law, 2021.

He said NNPCL is currently involved with prospective partners in the exercise marked: “NNPC Ltd. IPO Beauty Parade” in line with capital market regulations before the start of IPO.

According to CFIO, the purpose of the IPO beauty parade is to assess potential partners and determine in what way they can support the company.

Also read: NNPC Debunks Explosion Report on Harcurt Refinery Port

He registered the fields of partnership needed to include investor relations, IPO readers, and investment bank partners.

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

PIA provides NNPCL to register for its shares in the capital market in accordance with the provisions of the company and Allied Matters ACT (CAMA) 1990.

By: Babajide Okeowo

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