United Bank for Africa Plc (UBA) has announced plans to raise N157 billion through a rights issue in a bold strategic move aimed at strengthening its capital base, improving liquidity, and driving growth across its operations in Africa and beyond.
The capital-raising initiative, which underscores the bank’s commitment to maintaining resilience in a competitive financial landscape, is designed to position UBA for sustained expansion, regulatory compliance, and increased shareholder value in the face of evolving market dynamics.
In a statement filed with the Nigerian Exchange Limited (NGX) on Thursday, the bank disclosed that its stockbrokers, United Capital Securities Limited, have submitted an application seeking approval and listing for the rights issue. The exercise involves the issuance of 3,156,869,665 ordinary shares of 50 Kobo each, priced at N50 per share.
According to the notice, the rights issue will be offered on the basis of one new ordinary share for every 13 ordinary shares held, based on the register of members as of the qualification date of Wednesday, July 16, 2025.
“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. in respect of a proposed Rights Issue,” the disclosure read.
The move comes as UBA intensifies efforts to strengthen its capital buffers in line with regulatory requirements and sustain its expansion strategy across Africa. The bank emphasized that the capital raise will enhance its ability to seize growth opportunities in key markets while ensuring resilience in an evolving macroeconomic environment.
The rights issue is subject to approval from the Securities and Exchange Commission (SEC) and the NGX.
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