Med-view gets NSE’s approval for listing

Med-View Airline has secured the nod of the council of the Nigerian Stock Exchange (NSE) to list its entire issued share capital on the Exchange.

Med-View Airline, it was gathered, would be listing 9.75 billion ordinary shares of 50 kobo each at N1.50 per share, indicating a startoff market capitalisation of N14.63 billion.

The coming of Med-View into the exchange market is expected to boost the visibility of aviation in the money market joining the likes of Nigerian Aviation Handling Company (NAHCO)and Airline Services and Logistics, an in-flight catering service.

Two investment firms, Trust Yields Securities Limited and Kedari Capital Limited, were reportedly working with the board of Med-View Airline to facilitate the listing.

The listing will be done by way of introduction, meaning that Med-View Airline would 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, before delving into the domestic operations in November 2012. It has now made inroads into regional and international routes including Ghana, Liberia and Sierra Leone for the West Coast, as well as LondonGatwick and Jeddah, Saudi Arabia.