United Financial institution for Africa (UBA) Plc has prolonged its ongoing N157.843 billion rights subject.
UBA acknowledged this in a discover to the Nigerian Alternate, signed by the group firm secretary/authorized counsel, Bili Odum.
The financial institution hereby notifies its shareholders, the NGX, stakeholders, and most of the people that the acceptance/utility interval for its ongoing rights subject, initially scheduled to shut on September 5, 2025, has been prolonged by two weeks and can now shut on September 19, 2025, following the receipt of approval from the Securities and Alternate Fee (SEC).
“This extension goals to offer shareholders further time to completely train their rights and take part within the Rights Subject. The Financial institution stays dedicated to making sure that each one shareholders are adequately carried alongside and may maximise the advantages of the rights subject.”
The corporate’s second fairness issuance beneath its N400 billion Fairness Shelf Programme, by the use of a rights subject, is providing 3.157 billion new bizarre shares of fifty kobo every at N50.00 per share, on the premise of 1 new share for each 13 bizarre shares.
Additionally, the financial institution’s first fairness issuance beneath the Programme closed on December 24, 2024, with a N239.4 billion rights subject achieved and a 104.8 per cent subscription degree, which was subsequently scaled right down to a 100 per cent allotment. This robust efficiency displays important investor confidence in UBA’s technique and progress prospects.
UBA’s group chair, Tony Elumelu, acknowledged that the rights subject intends to boost N157.8 billion in further fairness capital. This may allow the Financial institution to fulfill the brand new minimal capital necessities set by the Central Financial institution of Nigeria (CBN) whereas additionally supporting its strategic growth plans and enhancing long-term shareholder worth.
Wanting forward, he added that “this capital elevate will allow the Financial institution to fulfill and exceed CBN’s recapitalisation directive and strengthen the Financial institution to ship on its progress goals.”
Elumelu urged the shareholders to make the most of this funding alternative and absolutely train their rights.
UBA’s unaudited monetary outcomes for the primary quarter ended March 31, 2025, posted a sturdy pre-tax revenue of N204.27 billion, representing a 30.65 per cent year-on-year progress from Q1 2024.
Web revenue additionally noticed a powerful efficiency, with revenue after tax rising 33.15 per cent to N189.84 billion, in comparison with N142.58 billion recorded in the identical interval final 12 months.
The group’s gross earnings closed Q1 2025 at N764.31 billion, a big enhance of 34.05 per cent from N570.2 billion in Q1 2024. Curiosity earnings, which stood at N440.76 billion, grew by 36.09 per cent to N599.83 billion.
