The Nigerian Stock Exchange (NSE) has confirmed that it will on January 31st list the shares of Med-View Airline Plc by way of introduction.
A senior official of NSE, who pleaded anonymity, confirmed the listing of the airline’s shares to NAN on Wednesday in Lagos.
Med-view is expected to list 9.75 billion ordinary shares of 50k each at N1.50 per share by way of introduction, indicating a market capitalisation of N14.63 billion.
This listing by way of introduction implies that Med-View Airline’s shares will be available initially at the secondary market window. The official said that the company would float an Initial Public Offering (IPO) later in the year.
Another company to be listed soon would be Jaiz Bank in the next couple of weeks, the NSE official confirmed.
According to him, the listing of the bank’s 29.46 billion ordinary shares of 50k each at N1.25 per share will also be by way of introduction.
Commenting on the development, Malam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., said most operators would be excited by the listings.
Kurfi urged the airline to adhere strictly to the NSE post-listing requirements.
He said that Med-View Airline must maintain integrity in order to change the minds of shareholders on the airline stocks.
The listing of Med-View Airline would bring the number of airlines listed on the exchange to three. Aviation Development Company (ADC) was the first airline to be listed in 1994, followed by Albarka Airline on Aug. 14, 2002, but Albarka was delisted in March 2011.
Two other aviation-related companies listed on the NSE are Airlines Services and Logistics, an in-flight catering company, and the Nigerian Aviation Handling Company (NAHCO), a ground-handling company.