MED-VIEW Airline has been given approval by the the council of the Nigerian Stock Exchange (NSE) to list its entire issued share capital on the Exchange.
This move once through ensures the return of the airlines back to the stock market after the delisting of the previous carriers.
Med-View Airline, according to information obtained by Nigerianflightdeck.com, will be listing 9.75 billion ordinary shares of 50 kobo each at N1.50 per share, indicating a start-off market capitalisation of N14.63 billion. Trust Yields Securities Limited and Kedari Capital Limited, two investment firms, were said to be working with the board of Med-View Airline to facilitate the listing.
The listing will be done by way of introduction, implying that Med-View Airline will be available initially through the secondary market, though the airline was said to be interested in floating its initial public offering (IPO) as the market condition improves.
Med-View Airline commenced operations in 2007 as first, a travel agency and then a Hajj operator, growing to become a household name in hajj operations in the country.
Med-View Airline commenced domestic operation in November 2012 with a fleet of two Boeing 737-400 aircraft. It added another Boeing 737-800 just a month after.