United {Bank} for Africa (UBA) Plc has disclosed plans to lift over N157 billion by way of a rights subject, in line with a discover from the Nigerian Alternate (NGX) to buying and selling license holders.
The discover, signed by Godstime Iwenekhai, Head of Issuer Regulation at NGX, revealed that UBA, by way of its stockbroker United Capital Securities Restricted, submitted an software to record a rights subject of three,156,869,665 atypical shares of fifty kobo every at N50.00 per share.
Based on the small print, the supply shall be made on the idea of 1 new share for each 13 atypical shares held as of the shut of enterprise on July 16, 2025.
The NGX round reads:
“Buying and selling License Holders are hereby notified that United {Bank} for Africa Plc has, by way of its stockbroker United Capital Securities Restricted, submitted an software to the Nigerian Alternate Restricted for the approval and itemizing of a Rights Difficulty of three,156,869,665 atypical shares of fifty Kobo every at N50 per share.”
This newest transfer is a part of UBA’s broader technique to shore up its capital base in step with the Central Bank of Nigeria’s (CBN) recapitalization directive.
It’s just like an earlier transfer in November 2024, when the {bank} sought NGX approval for a N239 billion rights subject priced at N35 per share.
UBA had in early November 2024 introduced plans to lift capital by way of a rights subject of 6,839,884,274 atypical shares, every with a nominal worth of fifty kobo and priced at N35.00 per share.
The supply, filed by way of its stockbroker United Capital Securities Restricted, focused proceeds of roughly N239.4 billion.
Investor response was robust, because the supply was oversubscribed with complete subscriptions reaching N251 billion. Nevertheless, in step with the supply phrases, the {bank} accepted N240 billion, pushing its complete capital base to N355.2 billion.
Based on sources, UBA is anticipated to lift the remaining stability earlier than the tip of 2025, making the most recent rights subject announcement a continuation of that capital-raising plan.
With a robust Q1 2025 efficiency, together with stable progress in core earnings, the {bank} seems well-positioned to draw buyers’ curiosity.
United {Bank} for Africa (UBA) Plc delivered stable leads to the primary quarter of 2025, posting a pre-tax revenue of N204.27 billion, up 30.65% from the identical interval in 2024.
Web revenue additionally grew strongly by 33.15%, reaching N189.84 billion, in comparison with N142.58 billion in Q1 2024.
A key driver of this efficiency was curiosity earnings, which rose 36.09% year-on-year to N599.83 billion. The breakdown reveals:
UBA additionally recorded wholesome non-interest earnings, led by charges and commissions. Notable figures embody:
