Jaiz Bank to list on NSE today

The management from JAIZ Bank plc will be at the Nigerian Stock Exchange (NSE) today to list the shares of the bank and present capital market stakeholders with facts behind the listing.

A total of 29.46 billion shares will be listed at a price of N 1.25 per share, increasing the market capitalisation of the Exchange by N36.83 billion. The stock JAIZ Bank Plc trades on the NASD OTC plc. The bank will make history today by being the first stock to cross from the NASD OTC to the NSE. On the heels of its being granted a national license by the Central Bank of Nigeria (CBN), the bank also intends to raise funds through an IPO to execute its expansion plans across the country.

Shareholders of JAIZ Bank Plc had earlier given approval of this listing at an Extra Ordinary General Meeting (EGM) held October last year. They also approved the splitting of the nominal value of its shares from N1 to 50 Kobo, raising its authorized share capital from 15 billion shares of N1 to 30 billion shares of 0.50 Kobo.