By InvestAdvocate
Lagos (INVESTADVOCATE)-Jaiz Bank Plc, Nigeria’s first non-interest lender will today (Thursday) list by introduction its entire issued share capital on the Nigerian Stock Exchange (NSE).
The non-interest lender will be listing a total of 29.46 billion ordinary shares of 50 kobo each at N1.25 kobo per share amounting to N36.83 billion.
Shareholders of the Jaiz Bank has in October 2016 endorsed the listing of the bank on the floor of the Nigerian bourse at an extraordinary general meeting (EGM) and also approved the sub-division of the bank’s nominal value from N1.00 to 50 kobo, thereby increasing its authorised share capital from 15 billion ordinary shares to N1.00 each of 30 billion ordinary shares of 50 kobo each.
Jaiz Bank has also indicated interest in raising fresh funds through an initial public offering (IPO). The non-interest lender plans to increase its current share capital from N15 billion to N25 billion.
Prior to this time, Jaiz Bank is already listed on the NASD OTC Plc, an over-the-counter (OTC) trading platform for unlisted public limited liability companies in Nigeria.
