Med-View Airline (Kano) is set to see a fresh capital injection after shareholders voted to increase the carrier's share capital through the issuance of a total of 2,249,350,600 ordinary shares valued at NGN0.50 each.
A Lagos Stock Exchange filing said the price of the issuance, which was approved during an AGM on March 28, would be determined by Med-View's directors acting in the best interest of the company.
As of April 3, Med-View's stock was trading at NGN2.14 (USD0.0059) with 9,750,649,400 shares outstanding.
The Nigerian carrier is still in the process of acquiring a new B737-800 and a B777-200(ER) to boost its international operations. It currently operates two B737-400s and one B737-500 while its only widebody jet, a B767-300(ER), is undergoing cabin refurbishment in the United Kingdom.
