Medview listing in NSE shores up market capitalization by N14.65b

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Nigeria’s fastest growing domestic airline, Medview plc is now listed on the Nigeria Stock Exchange as one of its publicly quoted companies.

The listing of 9.75 billion ordinary shares of 50 kobo each at N1.50k per share attracted who is who in the aviation and tourism industry and the money market world.

The aviation industry has again taken a bold step with the listing of medview airline on the nigeria stock exchange.
The development has been described by many as a right step in the right direction and a signal to would be investors both local and foreign that the industry is growing strong, abound in many opportunities and profit driven.
Medview airline commenced business in 2007 with hajj operations, 2012 to domestic passenger operations and in 2014 commenced regional and international flights.
It currently flies 8 local and 3regional routes and on the international routes, London and Jeddah with other approved international routes which include Johannesburg, Singapore Dubai, tel-aviv among others.
With a turnover of N3.6bn at the initial stages of operations, its turnover has grown to N26bn with a projected growth of N 76bn in the next five years.

Chief Executive Officer of the Nigeria Stock Exchange, Mr. Oscar Onyema said the introduction of Med-View Share in the Nigerian bourse has further deepened the market capitalization adding N14.65bn into market .
According to him, in spite of the global economic challenge, the air transport sector in Africa remains viable.
He said the airline has showed its commitment to a culture of strong corporate governance with it listing on the stock market.

Onyema said the air transport industry continues to contribute about USD$10bn to Gross Domestic Product (GDP) of African countries and it is projected that close to 6m jobs would be supported by African Air Transport sector over the next 20 years.

Onyema said, “We went through rigorous process to determine that Med-View Airline meets the listing standards of the Nigerian Stock Exchange. 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 increasing and increased returns to its shareholders.”

Mr. Onyema called on investors within and outside Nigeria to invest in the growing company assuring them of safety of their investments.

Minister of state, aviation, senator, Hadi Sirika who poured encomium on the management of the airline for the feat encouraged other companies in the aviation value chain to emulate what he called the bold step taken by Med-View.

” I commend medview airline for this feat today, the listed has demonstrated that the industry is strong, growing and full of opportunities. I urge other operators to emulate medview in their quest to up their operations and attract more investors .
I implore Nigerians to support this airlines including stakeholders”.

Managing Director, medview airline, Alhaji Muneer Bankole who earlier performed the symbolic closing gong ceremony at the floor of the exchange said the airline has been built on a solid foundation with safety as its watchword, professionalism and customer satisfaction.

Bankole said,” the airline is listing on the Nigerian bourse to enhance the corporate value and brand image of the airline as well as enabling it to have better access to long term capital from a wide range of local and international investors”.

Medview airline,Operating with two lease aircraft at inception,today has four aircraft and two lease planes in its fleet with the plan to acquire more.

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