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Med-View Airline, a leading Nigerian airline, is set to list its shares on the Nigerian Stock Exchange by way of introduction, according to a report by the News Agency of Nigeria on Wednesday.

An official of the NSE reportedly told NAN that Med-View Airline would list 9.75 billion ordinary shares of 50 kobo each at 1.50 per share by January 31st. This indicates a market capitalization of N14.63 billion for the airline.

Listing by way of introduction implies that Med-View Airline’s shares will be available initially at the secondary market window. The airline is expected to float its initial public offering (IPO) later this year.

With the listing of Med-View Airline, the number of airlines that have ever listed on the NSE will increase to three. In 1994, the Aviation Development Company (ADC) was the first airline to be listed on the NSE, while Albarka Airline was listed in 2002 but delisted in 2011. Two other aviation-related companies are listed on the NSE, namely: Airlines Services and Logistics, an in-flight catering company; and the Nigerian Aviation Handling Company (NAHCO), a ground-handling company.

Founded in 2007 as a charter airline for Hajj operations, Med-View Airline operates flight services to eight domestic destinations and five international destinations, including London via the Gatwick Airport. The airline has six aircrafts in its fleet.