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    UK Court awards £20m Damages in favour of Nigeria against P&ID

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    SEC warns against investing with GVEST Global’s illegal schemes

    SEC warns against investing with GVEST Global’s illegal schemes

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    APGA candidates win Anambra by-elections

    US deficit grows to US$291 billion in July – Reports

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    President Buhari commissions the new US$100m Ultra-modern MMIA Terminal

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    Conoil Plc reports 88.8% drop in profit to N900 million in H1 2025

    Brent crude oil price rise above $70 on OPEC projections

    OPEC+ agrees to increase oil production for September

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    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

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    CBN ends free ATM withdrawals for other banks’customers

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    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

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Jaiz Bank Plc considers private placement for 20 billion ordinary shares

Tuesday, 29 September 2020, 11:12 am
in Markets, Stocks/Equities
0
Jaiz Bank Plc grows Profit by 44% as Gross income rose by 39% in H1 2020
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Jaiz Bank Plc (NSE – JAIZBANK) is convening an Extraordinary General Meeting to seek shareholders’ approval to raise N10bn via private placement.

The private placement upon necessary approvals will offer for subscription 20,000,000,000 (twenty billion) ordinary shares of the Jaiz Bank Plc at the rate of N0.65 per share to identified investors.

The Extraordinary General Meeting will be held on Wednesday 28 October 2020, at the Bank’s corporate head office at Kano House, 73 Ralph Shodeinde Street Central Business District Abuja, FCT.

According to the publication filed by the bank to the Nigerian Stock Exchange (NSE), the shares will be listed on the the Exchange upon conclusion and obtaining NSE approval.

The N10 billion is required for the funding of the bank’s expansion process, enhance its information technology infrastructure, and enhance its working capital to meet the needs of its customers, according to the publication by the bank singed by Rukayat Oziama Dahiru, the company secretary.

  • Read also; Sterling Bank Plc to restructure as a Holding Company
  • CAP Plc announces date of Board Meeting

Jaiz Bank currently has 29,464,249,300 outstanding shares listed on NSE. These additional shares if fully subscribed will dilute the company’s shares by more than 67% to 49,464,249,300 outstanding shares.

About Jaiz Bank Plc

Jaiz Bank Plc is the first Islamic bank in Nigeria. The Bank was granted a banking license to carry on the business of non-interest banking and commenced operation on January 6th, 2012 with three branches in two states and the Federal Capital Territory.

It was established as a private limited liability company but was converted to a public limited liability company in April 2016 and now trades its Stock on the Nigeria Stock Exchange.

The address of the Bank’s registered office is Kano House, Plot 73, Ralph Shodeinde Street, Central Business District, and Abuja, Nigeria.

On Monday, its share price declined by 2kobo to close at N0.57 per share. The 52 week high and low prices are N0.82 and N0.39 per share respectively.

YTD it is down 8.06%

Written by;

Ifunanya Ikueze

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