Med-View Airline will be listed by introduction on the Nigerian Stock Exchange on Tuesday, January 31, a senior official said on Sunday in Lagos.
Known to be one of the fastest growing flag carriers in the country, Med-view would be the first airline to list its shares on the stock exchange in the last decade.
Sources at the stock exchange hinted that Med-View Airline would be listing N9.75 billion ordinary shares of 50 kobo each at N1.50 per share, indicating a start-off market capitalisation of N14.63 billion.
With the listing and sales of shares to members of the public, the airline would have access to the needed capital inflow to run more efficiently and improve confidence of investors.
Besides, shareholders would also have a say in the running of the airline, while the risk of ownership is spread among the shareholders as well.
Med-View’s Executive Director, Business Development, Mr Isiaq Na-Allah, in a statement, said:
“Medview Airline (christened “The Airline of Nigeria”), started from a humble beginning 12 years ago as a cargo, tour and charter operator.
“Not contented with tickets and destination sales, the airline ventured into Hajj operations.
“The airline’s forays into pilgrims airlift has revolutionised pilgrims handling and airlift in Nigeria and in the West African sub-region.
“Today Medview is the benchmark and the airline of choice when it comes to Hajj operations in Nigeria.
“It is ranked number one by the National Hajj Commission of Nigeria for hitch-free Hajj operations.”
It was also learnt that that Kedari Capital Limited and Trustyields Securities Limited are the financial Advisers/issuing House and Stockbrokers to Med-View Airline in respect of the listing exercise.