United Bank for Africa (UBA) Plc has announced an extension of its ongoing N157 billion rights issue, moving the application deadline beyond the earlier date of September 5, 2025.
The bank disclosed the development in a statement filed with the Nigerian Exchange Limited (NGX), noting that the new deadline will allow more shareholders and prospective investors to participate in the capital-raising exercise.
Why the Extension?
UBA explained that the decision was taken following feedback from stakeholders and in line with regulatory approvals, to give ample time for subscription given the scale of the offering. The extension also reflects the bank’s commitment to inclusivity, ensuring that retail investors and institutional shareholders alike are able to take advantage of the offer.
Details of the Rights Issue
The N157 billion rights issue forms part of UBA’s broader capital optimization strategy. Proceeds are expected to strengthen the bank’s capital base, enhance regulatory compliance, and support its growth ambitions across Africa and international markets.
With operations in over 20 African countries, as well as the UK, France, the US, and the UAE, UBA has positioned itself as one of Nigeria’s leading financial institutions with a strong focus on retail, corporate, and digital banking.
Market Reactions
Analysts note that the extension could boost overall subscription levels, particularly among investors who may have required additional time to mobilize funds. The move is also being interpreted as a signal of UBA’s confidence in the success of the offer and its long-term strategic growth.
UBA assured shareholders that all other terms of the rights issue remain unchanged, apart from the revised deadline, which will be communicated officially once finalized.
