The Nigerian National Petroleum Company Limited has failed to meet the deadline for the start of its initial public offering.
The national oil company’s quarterly report, published on Monday, stated that the company missed the deadline for its initial public offering.
An IPO is a public offering where a company sells shares to institutional investors. The NNPC was expected to be ready for an IPO by the end of the second quarter, according to the quarterly report. However, it is now the third quarter, and no IPO has been launched yet.
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