With the recent conclusion of its
Initial Public Offering (IPO), Precision Air Plc. says it has been
listed on the Dar es Salaam Stock Exchange. The airline adds that
the listing, which took place in a colorful ceremony at the Dar es
Salaam Stock Exchange (DSE) premises, was officiated by the
Minister for Transport, Hon. Omari Nundu, with the airline's
founder and Chairman, Mr. Michael Shirima, in attendance. Other
officials included DSE's Chief Executive Officer, Mr. Gabriel
Kitua, as well as those from the Capital Markets and Securities
Authority (CMSA).
Hon. Nundu applauded Precision Air
for being on the forefront of the airline industry in Tanzania and
for its achievement in listing on the DSE.
"Precision Air is the designated
second national carrier in Tanzania with an overwhelming market
share. I'd therefore like to reassure stakeholders in the airline
industry that the government is eyeing to reaffirm better policies
as well as improve infrastructure so as to produce healthy
competition in the market," notes the minister. "We look forward to
continue working together in order to achieve the common objective
of enhancing shareholder value in the company; especially for the
new shareholders," Mr. Shirima remarks. "We are pleased that
the IPO attained both objectives (raising capital and extending
ownership). The number of Tanzanian participants is a true
testimony of the trust and confidence that the public has in the
company, states Precision Air Group Managing Director and CEO, Mr.
Alfonse Kioko.