United Bank for Africa (UBA) Plc has disclosed plans to raise over N157 billion through a rights issue, according to a notice from the Nigerian Exchange (NGX) to trading license holders.
The notice, signed by Godstime Iwenekhai, Head of Issuer Regulation at NGX, revealed that UBA, through its stockbroker United Capital Securities Limited, submitted an application to list a rights issue of 3,156,869,665 ordinary shares of 50 kobo each at N50.00 per share.
According to the details, the offer will be made on the basis of one new share for every thirteen ordinary shares held as of the close of business on July 16, 2025.
