United Bank for Africa Plc (UBA) has unveiled plans to raise N157 billion through a rights issue as part of its strategy to strengthen its capital base and support its expansion across Africa.
The announcement was made in a notice submitted to the Nigerian Exchange Limited (NGX) on Thursday. In the disclosure, UBA said its stockbrokers, United Capital Securities Ltd., had submitted an application to the NGX for approval and listing of the rights issue.
“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.,” the notice read.
According to the bank, the proposed rights issue will involve 3,156,869,665 ordinary shares of 50 Kobo each, priced at N50.00 per share.
UBA further disclosed that “the rights issue will be on the basis of one new ordinary share for every 13 ordinary shares held as of the close of business on Wednesday, July 16, 2025.
“The qualification date for the Rights Issue is July 16, 2025,” it added.
The capital raise is part of UBA’s broader plan to enhance its financial strength and fuel its growth trajectory across the continent.
