The Jaiz Bank Plc’s has recently announced that its Rights Issue of N2, 957, 424, 930 ordinary shares is now open and will close on January 11, 2016. This announcement was made at closing ceremony of the Kano International Trade Fair in Kano, Nigeria.
Head of Corporate Communications, Idris Salihu stated that the Rights Issue, which is to shore up the bank’s capital base, attracts ordinary shares of N1.00 each at N1.30 per share. According to him, the Rights Issue is being offered to the existing Shareholders “On the basis of one (1) new ordinary share for every four (4) ordinary shares held as at 30th April, 2015”’ pointing that by the conclusion of the Rights Issue, the proceeds would raise the bank’s capital base to over N15, billion, which is above the threshold applicable to a specialised Bank like Jaiz.
Salihu said “As you may be aware, the Central Bank of Nigeria (CBN) has given Jaiz Approval-In-Principle to go National. We believe this will position the bank to extend its services to all Nigerians Christians and Muslims alike.
“We therefore call on the shareholders to take advantage of this offer to increase their stake in the bank.”
The bank commenced operations in January 2012 with only three branches in Abuja, Kano and Kaduna, which has grown to 22 locations as at today
