UBA Launches N157bn Rights Issue with Over 3.15 Billion New Shares
United Bank for Africa (UBA) Plc is planning to raise over N157 billion through a major rights issue. This move is part of the bank’s strategy to strengthen its capital base and support future growth.
According to a recent disclosure by the Nigerian Exchange Limited, UBA—through its stockbroker, United Capital Securities Limited—has applied to list 3,156,869,665 ordinary shares. Each share is priced at N50 and has a nominal value of 50 kobo.
The rights issue will be offered based on one new share for every thirteen ordinary shares held. The qualification date for existing shareholders was confirmed as July 16, 2025. This means only those who held UBA shares by the close of business on that day are eligible to participate in the offer.
The statement, signed by Godstime Iwenekhai, Head of the Issuer Regulation Department at the NGX, confirmed the application. He urged trading license holders and investors to take note of the development, as it could impact market activity and investment decisions.
This new offering is part of UBA’s broader financial plans following a strong performance in 2024. The bank recorded a profit before tax of N803.73 billion for the 2024 financial year, driven by strong earnings and better operational efficiency.
The rights issue is expected to give current shareholders the opportunity to increase their stake in the bank, while helping UBA raise much-needed funds for expansion, digital transformation, and regulatory requirements.
Investors are now watching closely to see how the offer will perform once approved and listed, especially in the context of Nigeria’s evolving financial market landscape.
With this bold step, UBA joins other leading banks looking to solidify their capital in response to increasing regulatory demands and economic shifts.
