Jaiz Bank Plc has submitted an application to Nigerian Exchange Limited (NGX) for the approval and listing of a Rights Issue of 5.4 billion ordinary shares of N0.50 each at N1.00 per share.
This was contained in the NGX weekly report obtained by Nairametics.
According to the statement, trading license holders were notified that Jaiz Bank Plc has, through its joint stockbrokers, Finmal Finance Services Limited and Kundila Finance Services Limited, submitted an application to Nigerian Exchange Limited for the approval and listing of a Rights Issue of 5,408,356,536 ordinary shares of N0.50 each at N1.00 per share.
This was on the basis of 87 new ordinary shares for every 250 ordinary shares held as of the close of business on Friday, October 6.
The qualification date for the Rights Issue, according to the statement, is October 6.
It will be recalled that Jaiz Bank Plc declared a N6.6 billion profit before tax for the 2022 financial year, an increase of N2.4 billion, which translates to 53 percent, compared to N4.2 billion realised in the corresponding period of 2021.
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