UBA offers 3.15 billion new shares in N157bn rights issue

United Bank for Africa Plc (UBA) has announced plans to raise more than N157 billion via a rights issue aimed at strengthening its capital base and supporting future growth.

According to a disclosure by the Nigerian Exchange Limited (NGX) on Wednesday, the bank, through its stockbrokers, United Capital Securities Limited, has submitted an application for the approval and listing of 3,156,869,665 ordinary shares of 50 kobo each, priced at N50.00 per share.

The offer will be issued on the basis of one new ordinary share for every thirteen ordinary shares held, with Wednesday, July 16, 2025, confirmed as the qualification date.

A statement signed by Godstime Iwenekhai, Head of the Issuer Regulation Department at NGX, read:

“Trading License Holders are hereby notified that United Bank for Africa Plc (the Company) has, through its Stockbrokers, United Capital Securities Limited, submitted an application to Nigerian Exchange Limited for the approval and listing of a Rights Issue of Three Billion, One Hundred and Fifty-Six Million, Eight Hundred and Sixty-Nine Thousand, Six Hundred and Sixty-Five (3,156,869,665) ordinary shares of 50 Kobo each at N50.00 per share.
The Qualification Date for the Rights Issue is 16 July 2025.”

This capital raise follows UBA’s strong financial performance in 2024, during which the bank reported a profit before tax of N803.73 billion, driven by robust core earnings and improved operational efficiency, as reported by The PUNCH.