Med-View Airline listings adds N14.65bn to NSE market cap

Med-View Airlines Plc Tuesday listed its shares on the floor of the Nigerian Stock Exchange (NSE). The airline’s listing added about N14.65billion (N14, 625,974,100) to the market capitalisation of the Exchange, further deepening the Nigerian capital market.

Med-View Airlines Plc listed by introduction its 9.75billion (9,750,649,400) ordinary shares on the Main Board of the Nigerian Stock Exchange at a listing price of N1.50 per share.

Trust Yield Securities, Kedari Capital and African Prudential are the professional parties to the listing of Med-View Airlines Plc.

Med-View Airline Plc is one of Nigeria’s foremost airlines, airlifting more than 3million passengers and 46million tons of cargo (annually) to 14 local, regional and international destinations, including London, Accra, Jeddah, Abuja, and Lagos amongst others.

Oscar Onyema, CEO, Nigerian Stock Exchange (NSE) described the listing yesterday by Med-View Airlines Plc as “a culmination of several months of hardwork by all parties to the transaction including the Securities and Exchange Commission (SEC) and the Exchange.”

Onyema further stated: “When the MD/CEO of Med-View Airlines Plc approached us with his financial advisers for approval to list on the Exchange, we went through a rigorous process to determine that Med-View Airlines meets the listing standards of the NSE.  With this listing, the Company is showing its commitment to a culture of strong corporate governance, excellence, professionalism and efficient services to its passengers, as well as providing increased returns to its shareholders.”

The NSE CEO said the listing will also increase the visibility of Med-View Airline Plc and differentiate it as a professionally run airline with high corporate governance standards, “having met the NSE’s listing criteria.”

“We are particularly pleased that Med-View has taken this strategic step to join the prestigious club of quoted companies in Nigeria.  It further reaffirms our belief that in spite of several policy and economic challenges facing the nation, our platform remains one of the best avenues for raising capital and enabling sustainable growth for national development.  I commend Med-View for this bold and strategic step,” Onyema said at the “facts behind the listing presentation” of Med-View Airlines Plc.

 

Iheanyi Nwachukwu