United Bank for Africa (UBA) says it will raise N239.4 billion through a rights issue programme.
The United Bank for Africa says it will raise N239.4 billion through a rights issue to existing shareholders.
The financial institution said the offering, opened on November 15, gives existing shareholders the opportunity to buy 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 5.
“The primary objective of this Rights Issue is to further strengthen our capacity to take advantage of growth opportunities and sustain our leadership in the banking industry.”
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