Shareholders to receive one new share for five existing shares
Nigerian lawmakers violate country’s law, ignore PWD’s needs despite spending N42 billion on renovationsSPECIAL REPORT: How disinformation fueled ethnic tensions in KadunaIs AI coming for the journalist?, By Azu IshiekweneINVESTIGATION: Dasuki Money Trail: How ex-NSA approved suspicious billions for family friends
The Rights Issue, which opened on Friday, November 15, 2024, gives existing shareholders the opportunity to purchase additional shares in proportion to their current holdings and is being offered based on one new ordinary share for every five existing ordinary shares held by shareholders, as of November 05, 2024.
Explaining the use of proceeds, the Group Chairman noted that, beyond regulatory compliance, the funds will expand the Group’s lending capacity, investment in digital infrastructure, support sustainable business practices and expanding the Group’s African operations. Application for the provisional allotment of the Rights to the new ordinary Shares will be made exclusively through the NGX e-offer portal during the offer period, while existing shareholders may also apply for additional shares above their provisional allotment as described in the Provisional Allotment Letter. Shareholders who are customers of the Bank are also encouraged to access their Rights through UBA’s internet banking and mobile banking channels.
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