United Bank for Africa Extends Rights Issue Offer by 2-Week
Pan-African lender, United Bank for Africa Plc has notified its shareholders, the Nigerian Exchange Limited, stakeholders, and the public that the acceptance/application period for its ongoing Rights Issue, has been extended.
In an official statement, the financial services group said the offer which was initially scheduled to close on Friday, September 5, 2025, has been extended by two weeks and will now close on Friday, September 19, 2025.
UBA stated that the Right issues was extended following the receipt of approval from the Securities and Exchange Commission, adding that the extension is aimed at providing shareholders with additional time to fully exercise their rights and participate in the Rights Issue.
The group is seeking to meet the Central Bank N500 billion racialisation requirement ahead first quarter of 2026 deadline. UBA said it remains committed to ensuring that all shareholders are adequately carried along in the process and can maximize the benefits of the Rights Issue.
The Pan African lender opened rights issue offer for shareholders as part of effort to reduce dilution risks, with 1 for 13 shares holding priced at N50. Trading data from the Nigerian Exchange showed that UBA share price closed the week at N46.75, tracking behind the rights issue offer price of N50 and its highest value of N50.55 in 52-week.
The Group’s performance has remained impressive, creating value for shareholders with a about 50% year-on-year growth in total assets to ₦30 Trillion. UBA delivered ₦766 Billion as Profit After Tax for the 2024 financial year, up by 26% from the previous year and declared a total dividend of ₦5.00 per share, which surpasses the ₦2.80 total dividend declared in the previous year. #United Bank for Africa Extends Rights Issue by 2-Week Nigeria’s External Reserves Rise by $1.91bn in August
