Business Hilights
Tracking Nigeria's Headline Business News Online

Stakeholders endorse Jaiz Bank’s listing at NSE

Nigeria’s first non-interest bank, Jaiz Bank Plc,  is now set to be listed and traded on the floor of the Nigerian Stock Exchange following the massive approval given by shareholders Wednesday to list on the floor of the Nigerian Stock Exchange (NSE).

The bank said the feat will among other things open opportunities for individuals who desire to own shares in the bank.

Addressing shareholders at the Extraordinary General Meeting of the bank in Abuja, its Chairman, Dr. Umaru Abdul Mutallab, said with the shareholders’ endorsement, the bank’s authorised share capital had been sub-divided from 15,000,000,000 ordinary shares of N1 each to 30,000,000,000 ordinary shares of 50 kobo each.

Also, the Managing Director/Chief Executive Officer, Jaiz Bank, Mr. Hassan Usman, said once listed on the NSE, existing shareholders would be free to trade their shares while new investors could also invest by buying the shares.

According to him, “We want the general public to benefit from the bounties of profit opportunities available so that we can all grow together as one big Jaiz family. The potential is enormous.

“As you may be aware, few months ago, the bank’s Rights Issue of 2.9 billion ordinary shares was successfully subscribed. We call on everyone to take advantage of this opportunity to own shares in Jaiz Bank Plc.”