Med-View Airlines Plc plans to launch its initial public offering (IPO) in the second quarter of the year to raise new equity funds to expand its operations.
Med-View Airlines on January 31, 2017 listed its entire issued share capital on the Nigerian Stock Exchange (NSE). A total of 9.75 billion ordinary shares of 50 kobo each were listed at N1.50 per share.
Managing Director, Med-View Airlines, Alhaji Muneer Bankole, said the company would in the next three months float its IPO to raise additional funds and allow more investors to buy into the company.
According to him, the airline would by April expand its operations to Francophone countries within the West African states.
Bankole said the airline would expand its operations to Dakar, Senegal; Conakry, Guinea; and Abidjan, Cote D’Ivoire in the next two months, noting that the airline has already commenced, Lome, Togo route.
“We are in the market not to do anything extraordinary but to let all Nigerians know that there is something to grow together’’.
This is a private entity that starts from zero. The durable, profitable and safest business you can do is transport. To carry cargo from Lagos to Abuja is 45 minutes; London is six hours; even by ship you will be there for three months. It is the only way you can move people and communicate to the next neighbor,” Bankole said.
He said the aim of the airline was to connect all the West African states before expanding its operations to Europe and America.
According to him, the airline will also commence Lagos-Dubai route in April, which has been in pipeline for over two years while the Baltimore, Washington DC in United States will start soon.
“We are increasing our financial capacity in the area of growth. We are discussing with partners to acquire more aircrafts that we will bring back home to be able to increase our capacity,” bankole said.