March 27, 2025
The National Petroleum Company Limited, NNPCL, has announced that the long-awaited Initial Public Offer (IPO) of the company is now at its final stage.
An IPO is a public offering in which shares of a company are sold to institutional investors
NNPCL, Chief Corporate Communications Officer, Mr. Olufemi Soneye stated this in a statement on Thursday.
Excerpt from the statement reads “NNPC Ltd Ready for Initial Public Offer
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.”
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“This was disclosed by the Company’s Chief Finance and Investor Relations Officer (CFIO), Mr. Olugbenga Oluwaniyi, at a consultative meeting with partners at the NNPC Towers, Abuja, on Thursday.
“He said NNPC Ltd was 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).
“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.”
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Oluwaniyi, listed the areas of partnership required to include: Investor Relations, IPO Readiness Advisers and Investment Bank Partners.
He emphasized that the company with the best offer in terms of project partnership would be selected for each of the three categories.
The Petroleum Industry Act, PIA, provides for the NNPC Ltd to list its shares in the capital market in line with the provisions of the Company and Allied Matters Act (CAMA) 1990.
