Kenya Airways to sell 15% of 49% stake in PrecisionAir

Kenya Airways plans to sell 15% of its 49% stake in PrecisionAir to investors in Tanzania by the end of 2010 (All Africa, 12-Jul-2010). The IPO will increase Tanzania's ownership of the carrier from 51% to 66%, leaving 34% with the airline. The shareholders have made an application to the Tanzania Capital Market and Securities Authority to authorise the airline to list on the Dar es Salaam Stock Exchange (DSE). PrecisionAir has already finalised discussion with the DSE for listing on the bourse.