Nigeria’s state oil firm is courting worldwide and native markets for advisers because it prepares for a long-delayed preliminary public providing.
The Nigerian Nationwide Petroleum Firm Ltd. is looking for investor relations specialists, IPO advisers and funding financial institution companions to assist handle the share sale, Chief Finance and Investor Relations Officer Olugbenga Oluwaniyi stated, in response to a press release issued in Abuja, the nation’s capital.
He didn’t give a time line for the IPO, saying that the corporate was within the “remaining stage” of acquiring a list.
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NNPC had repeatedly delayed a share sale after it was first proposed almost a decade in the past. An IPO was final mooted 4 years in the past, when it posted a revenue for the primary time in 44 years. Then-President Muhammad Buhari signed laws in 2021 that enables the corporate to promote shares to the general public.
The corporate would draw on the expertise of Saudi Aramco, the Saudi Arabian oil large that raised $25.6 billion within the largest IPO in historical past in 2019, Mele Kyari, the group chief government officer, stated in 2021.
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