UBA to raise N157bn via rights issue

UBA to raise N157bn via rights issue

United Bank for Africa Plc (UBA) has announced plans to raise N157 billion through a rights issue.

According to the News Agency of Nigeria (NAN), the disclosure was made via a notice to the Nigerian Exchange Ltd (NGX).

It said in a statement on Thursday that its stock brokers, United Capital Securities limited., had submitted an application to the Nigerian Exchange limited. to that effect.

It added its stock brokers 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

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“Trading License Holders are hereby notified that United Bank for Africa Plc, through its Stockbrokers, 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.

UBA to raise N157bn via rights issue