Jaiz Bank Offers N2.4bn Rights Issue

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The Jaiz Bank Plc Rights Issue of N2, 957, 424, 930 ordinary shares is now open and will close on January 11, 2016, the bank announced over the weekend.

The Rights Issue, which is to shore up the bank capital base, attracts ordinary shares of N1.00 each at N1.30 per share, the bank head, Corporate Communications, Idris Salihu told newsmen at closing ceremony of the Kano International Trade Fair in Kano.

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.

“He said by the conclusion of the Rights Issue, the proceeds would raise the bank 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.”

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