The United Bank for Africa Plc (UBA) has announced plans to raise N157 billion via a rights issue.
UBA made this known via a notice to the Nigerian Exchange Limited (NGX).
The bank, in a statement on Thursday, July 17, 2025, said its stock brokers, United Capital Securities Limited, has submitted an application to the NGX to that effect.
It stated that 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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UBA said: “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 move is part of UBA’s strategy to strengthen its capital base and support its expansion and growth objectives across Africa.
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