[Nigeria] UBA Plc lists Rights Issue on the Nigerian Stock Exchange

United Bank for Africa Plc, announces the listing of its Rights Issue on the Nigerian Stock Exchange, having admitted the additional shares issued into the Daily Official List of the Exchange. 

Following this supplementary listing of 3,298,138,756 ordinary shares of the Bank, the total issued and fully paid up shares of UBA has increased to 36,279,526,322 ordinary shares, with all shares ranking equally in voting rights, dividends and any other privileges that accrue to owners of the ordinary shares of the Bank. 

This listing reinforces the liquidity of the ordinary shares of UBA, which is one of the most traded stocks on the Nigerian Stock Exchange, given the diverse shareholder base of the Bank and above average float of the stock. 

The supplementary listing of shares follows successful allocation of the Rights to subscribers to the Issue, in line with the approval of the Securities and Exchange Commission. The respective Central Securities Clearing System (CSCS) accounts of subscribers to the Issue have been credited accordingly with the allocated shares whilst share certificates have been dispatched to other subscribers as required.   

Notably, UBA raised N11.5 billion through a 1-for-10 Rights Issue of its ordinary shares of N0.50 each at N3.50 earlier in the year. The seasoned equity offering provided the Bank with additional equity to further fortify its capital base and reinforce the capacity to grow its operations across the nineteen African countries where it operates.  

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