8-Mar-2011 12:53 PM

Precision Air to float shares in Mar-2011

Precision Air expects to list on the Dar es Salaam Stock Exchange (DSE) in Mar-2011 or by latest early Apr-2011 (Reuters, 07-Mar-2011). CEO Alfonse Kioko stated: "We are at very advanced levels to list Precision Air's shares on the Dar es Salaam Stock Exchange." The carrier will disclose details on the price range and how much it plans to raise from the IPO after receiving regulatory approval in the coming weeks. The share sale will result in Kenya Airways cutting its stake to 34%.