Nigeria's Jaiz Bank plans N13 bln private placement
Published 30 Sep,2020 via The Nation - Nigeria’s premier non-interest bank, Jaiz Bank Plc plans to raise new equity funds of about N13 billion through a private placement as the ethical commercial bank seeks to deepen its growing balance sheet.
Jaiz Bank plans to offer 20 billion ordinary shares of 50 kobo each at 65 kobo per share through private placement to identified investors.
In a regulatory filing at the Nigerian Stock Exchange (NSE) signed by Jaiz Bank’s Company Secretary, Mrs Rukayat Dahiru, the bank indicated that the board of directors has called an extraordinary general meeting (EGM) of shareholders to seek formal approval for the private placement.
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
Taofik Salako, Deputy Group Business Editor