The United Bank for Africa Plc (UBA) has announced plans to raise N157 billion through a rights issue.
The disclosure was made via a notice to the Nigerian Exchange Limited (NGX) by one of Nigeria’s leading banks, with presence across Africa and the world.
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 per share
The bank said: “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.
“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.
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“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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