UBA to raise N157 billion via rights issue to boost capital base
United Bank for Africa Plc (UBA) has announced plans to raise N157 billion through a rights issue.
The disclosure was made via a notice to the Nigerian Exchange Ltd (NGX).
It said in a statement on Thursday that its stockbrokers, United Capital Securities Ltd, had submitted an application to the Nigerian Exchange Ltd to that effect.
It added that its stockbrokers had requested for approval and listing of a Rights Issue of 3,156,869,665 ordinary shares of 50 Kobo each at N50.00 per share
“Trading License Holders are hereby notified that United Bank for Africa Plc, through its stockbroker, United Capital Securities Ltd., has submitted an application to the Nigerian Exchange Ltd. in that regard. The rights issue will be on the basis of one new ordinary share for every 13 ordinary shares held as of the close of business on Wednesday, July 16, 2025. The qualification date for the Rights Issue is July 16, 2025,” the bank noted.
The move is part of UBA’s strategy to strengthen its capital base and support its expansion and growth objectives across Africa.
(NAN)
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