United Bank for Africa Plc (UBA) has commenced a rights issue worth N157.8 billion to existing shareholders, aiming to comply with the Central Bank of Nigeria’s (CBN) revised capital requirements and fuel the bank’s strategic growth trajectory.
The offer, as detailed in a regulatory disclosure by Bili A. Odum, Group Company Secretary and Legal Counsel, consists of 3,156,869,665 ordinary shares of 50 kobo each, offered at N50.00 per share. The issue opened on Wednesday, July 30, 2025, and will run until Friday, September 5, 2025.
According to the notice, the offer is structured on a ratio of one new ordinary share for every thirteen ordinary shares held by shareholders as at the close of business on July 16, 2025.
This marks the second tranche under UBA’s N400 billion Equity Shelf Programme, previously approved by the Securities and Exchange Commission (SEC).
The bank explained that the capital raise aligns with the CBN’s new minimum capital directive and also seeks to inject fresh capital to advance UBA’s pan-African and global expansion plans.
UBA’s leadership reaffirmed its focus on delivering long-term shareholder value, stating that proceeds from the rights issue would enhance the bank’s capital adequacy, boost competitiveness, and support innovation across its operations.
