Business Med-View Airline To List On Nigerian Stock Exchange

[ProfRem]

Medview Airline, one of Nigeria's flag carriers will be "Listed by Introduction" on the Nigerian Stock Exchange (NSE) on Tuesday January 31, 2017.

Med-View is the first airline to list its shares on the capital in the last decade.

The airline also appointed Kedari Capital Limited and Trustyields Securities Limited as financial advisers/issuing house and stockbrokers to it in respect of the Listing exercise.

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 start-off market capitalisation of N14.63 billion.

Executive Director, Business Development, Med-View Airline, Mr. Isiaq Na' Allah in a statement on Sunday announced the airline's foray into the local bourse.



According to him, "The growth projection and market forecast informed Medview Airline decision to be listed on the Nigerian Stock Exchange to give members of the public the opportunity to be part of the airline through share holding.”

He said the listing will enable the airline expand its routes network and acquire more aircraft to boost operations.

Medview Airline started 12 years ago as a cargo, tour and charter operator before venturing into Hajj operations, airlifting over 300,000 pilgrims since inception.

The airline's forays into pilgrims airlift has revolutionized pilgrims handling and airlift in Nigeria and the West African sub-region.

 

[Conyekwe]

With the recession and price hike of aviation fuel is it safe to invest? What are the share projections for the next five years?

 

[curator]

With the recession and price hike of aviation fuel is it safe to invest? What are the share projections for the next five years?

The attraction for Med-View is that it is a cheap way to raise funds to run or expand their operations. Not sure what the upside is for investors in this climate.

 

[ProfRem]

With the recession and price hike of aviation fuel is it safe to invest? What are the share projections for the next five years?

Investors are advised to take precautionary measures in taking investing decisions, due diligence is more than necessary in trading NEW STOCK, aviation stock for that matter.

Med-View Airline was established in 2007 as a charter airline, mainly operating Haji flights and has expanded into regional and long-haul scheduled passenger routes. It operates five international destinations, including London via the Gatwick Airport.

The key people in it - Sheik Abdulmohsen Al-Athunayan (Chairman) Alhaji Muneer Alade Bankole (CEO) David Oni Babatunde (GM) with about 7 fleet as at 2015 and its' accounting book not open.