United Bank for Africa Plc (UBA) has commenced a ₦157.8 billion Rights Issue to bolster its capital position and support long-term growth initiatives in line with the Central Bank of Nigeria’s (CBN) new minimum capital requirements.
The offer, approved by the Securities and Exchange Commission (SEC), opened on Wednesday, July 30, 2025, and will close on Friday, September 5, 2025.
The exercise involves the issuance of 3,156,869,665 ordinary shares of 50 Kobo each at ₦50.00 per share, available to existing shareholders on the basis of one new ordinary share for every thirteen held as of July 16, 2025.
This Rights Issue represents the second tranche under UBA’s ₦400 billion Equity Shelf Programme, designed to provide the bank with the flexibility to strengthen its balance sheet while meeting regulatory thresholds.
UBA noted that proceeds from the offer will enhance its ability to comply with the recapitalisation directive from the CBN and fund the bank’s strategic expansion objectives across Africa and international markets.
In a statement, Bili A. Odum, Group Company Secretary/Legal Counsel, said: “This Rights Issue underscores UBA’s commitment to maintaining a strong capital base while positioning the Group for sustainable growth. It aligns with our strategic ambition to deepen market penetration and deliver long-term value to our shareholders.”
The bank said the capital raise is necessary to support its growing operations, reinforce its market leadership, and sustain momentum in key markets.
UBA, one of Africa’s leading financial institutions with a presence in 20 African countries and global offices in London, Paris, New York, and Dubai, continues to expand its reach while improving service delivery and profitability.
The bank’s Rights Issue comes at a time when Nigerian lenders are racing to meet the CBN’s revised recapitalisation thresholds aimed at strengthening the resilience of the country’s financial system.
Shareholders are advised to contact their stockbrokers and the appointed issuing houses for further information on participation in the Rights Issue.