United Bank for Africa Plc (NGX: UBA) has announced the commencement of the Bank’s Rights Issue of 3,156,869,665 ordinary shares of 50 Kobo each at ₦50.00 per share.
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In a regulatory filing on Wednesday, the bank formally notified the investing public of the commencement of the Rights Issue opening today, Wednesday 30 July 2025 and is scheduled to close on Friday, 05 September 2025.
The offer which has been duly approved by the Securities and Exchange Commission is being made to existing shareholders on the basis of one (1) new ordinary share for every thirteen (13) ordinary shares held as at the close of business on Wednesday, 16 July 2025.
This Rights Issue represents the second tranche under the Bank’s ₦400 billion Equity Shelf Programme, which was duly registered with the SEC.
The Programme is designed to ensure compliance with the new minimum capital requirements stipulated by the Central Bank of Nigeria, while also supporting UBA’s strategic expansion objectives and long-term value creation for shareholders.
In the first tranche, the Bank sort to raise ₦239.4 billion through a Rights Issue of 6,839,884,274 ordinary shares of 50 kobo each at ₦35.00 per share.
The first tranche of Rights Issue opened on Friday, November 15, 2024, and gave existing shareholders the opportunity to purchase additional shares in proportion to their current holdings and was offered based on one new ordinary share for every five existing ordinary shares held by shareholders, as of November 05, 2024.
At ₦50.00 per share, the Bank will be expecting to raise ₦157.8 billion new capital from the second tranche of its ₦400 billion Equity Shelf Programme.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
