Jaiz Bank Falls by 10% as Investors Exit Positions
Jaiz Bank Plc lost about 10% of its market value in the equities market as investors exited positions amidst scheduled board meeting on Friday. Data from the Nigerian Exchange, NGX, showed that Jaiz Bank share price declined to N3.25, losing 9.72% on Friday as about 16 million shares valued at N56.495 million exchanged hands.
The sell order executed in the stock market dragged the Islamic lender’s market value below N145 billion after board meeting held in the morning on Friday. The non-interest bank had announced that its board of directors would meet on March 14 to considered audited finance statement for 2024.
Its stock spiraled downward as market awaits outcome of the board meeting, and the release of audited report for 2024. The Islamic lender’s share is trading at fair discount to its 52-week on NGX. #Jaiz Bank Falls by 10% as Investors Exit Positions#
