United Bank for Africa Plc (UBA) has unveiled plans to raise more than N157 billion through a rights issue, as part of its strategic capital-raising efforts.
In a notice to capital market participants, the Nigerian Exchange Limited (NGX) disclosed that UBA, via its stockbrokers United Capital Securities Limited, has applied for the approval and listing of 3,156,869,665 ordinary shares at N50.00 per share. The shares have a nominal value of 50 kobo each.
The offer will be executed based on one new ordinary share for every thirteen shares held by existing shareholders as of the close of business on Wednesday, July 16, 2025.
According to a statement signed by Godstime Iwenekhai, Head of the Issuer Regulation Department at NGX, “Trading License Holders are hereby notified that United Bank for Africa Plc…has through its Stockbrokers, United Capital Securities Limited, submitted an application to Nigerian Exchange Limited for the approval and listing of a Rights Issue…”
The move comes on the back of a strong 2024 financial performance. UBA posted a profit before tax of N803.73 billion, buoyed by robust core earnings and improved cost efficiency — a performance that likely gives investors confidence in the bank’s expansion plans and capital adequacy ambitions.
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