United Bank for Africa Plc (UBA) has officially opened a rights issue worth N157.8 billion to existing shareholders as part of efforts to meet the Central Bank of Nigeria’s (CBN) new capital requirements and fund its strategic growth ambitions.
In a regulatory filing, Bili A. Odum, the Group Company Secretary/Legal Counsel, announced that the offer, comprising 3,156,869,665 ordinary shares of 50 kobo each at N50.00 per share, opened on Wednesday, July 30, 2025, and will close on Friday, September 5, 2025.
“The offer is on the basis of one new ordinary share for every thirteen ordinary shares held by shareholders as of the close of business on July 16, 2025,” it said.
According to the statement, this rights issue is the second tranche under UBA’s N400 billion Equity Shelf Programme, which has been approved by the Securities and Exchange Commission (SEC).
The bank said the capital raise is a proactive step to align with the CBN’s new minimum capital directive while also providing fresh capital to drive its pan-African and global expansion strategy.
UBA’s management reiterated its commitment to creating long-term value for shareholders, with the proceeds of the offer expected to bolster the bank’s capital adequacy, improve competitiveness, and support innovation across its banking operations, the statement disclosed.
