Precision Air hopes IPO will see expansion plans take-off
Precision Air's Initial Public Offering (IPO) will take place on 07-Oct-2011 when the carrier is listed on the Dar es Salaam Stock Exchange. Tanzania's largest airline plans to use funds raised from the rights issue to fund fleet and route expansion. Tanzania's transport sector is underdeveloped, although steps are being taken to encourage investment and improve infrastructure, in particular at rural airports. Better infrastructure will help drive domestic and regional trade, move the economy away from a reliance on agriculture and support tourism growth, all growing and important sectors in the Tanzanian economy.
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