United Bank for Africa Plc (UBA) on Wednesday notified investing public that it has commenced its N157.8billion rights issue on the Nigerian Exchange Limited (NGX).
The group company secretary/legal counsel, UBA, Bili Odum in a signed statement stated that Pan-Africcan finanial instititton’s rights issue ofi 3,156,869,665 ordinary shares of 50 kobo each at N50.00 per share opens Wednesday, July 30, 2025 and is scheduled to close on Friday, September 05, 2025.
Accordingi to him, the offer which has been duly approved by the Securities and Exchange Commission (SEC) 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 N400 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 (CBN), while also supporting UBA’s strategic expansion Objectives And Long-Term Value Creation For Shareholders,” the statement added.
The stock price of UBA as of July 30, 2025 is trading at N48.00per share on the Exchange.
The recapitalization move comes as Nigerian banks prepare to meet new regulatory requirements following the announcement of a sector-wide recapitalization exercise by the CBN in March 2024.
The program mandates banks to raise fresh capital within 24 months, from April 1, 2024, to March 31, 2026, to meet the minimum requirements for their banking licenses. This initiative is expected to bolster the financial services sector and provide a more robust foundation for Nigeria’s economy.
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