By InvestAdvocate

Lagos (INVESTADVOCATE) – First listed Registrar on the Nigerian Bourse, African Prudential Registrars (APR) Monday announced its acquisition of UAC Registrars.

Both firms notified the Nigerian Stock Exchange (NSE) that they have executed a Share Sale and Purchase Agreement (‘’SSPA’’) in respect of Africa Prudential’s planned acquisition of 100 percent (100%) of the Shares of UAC Registrars Limited, a subsidiary of UACN.

According to the two companies, completion of the transaction is subject to the fulfillment of all conditions precedent outlined in the SSPA including approval by the Securities & Exchange Commission (SEC).

Earlier in January 2013, UBA Capital Plc and African Prudential Registrars Plc listed shares worth N6.3 billion on the Daily Official List (DOL) of the NSE.

UBA Capital Plc listed a total quantity of 4,000,000,000 Ordinary Shares of 50k each at N1.16 while African Prudential listed a total of 1,000,000,000 Ordinary Shares of 50k each at N1.59.