By InvestAdvocate

Lagos (INVESTADVOCATE)-Africa’s global lender, United Bank for Africa Plc (UBA) said on Friday it has listed N11.5 billion worth of shares following its just concluded successful rights issue.

“A total of 3,298,138,756 ordinary shares of 50 Kobo at N3.50 per share belonging to United Bank for Africa Plc. were admitted to trade at the Exchange on July 24, 2015. This arose as a result of the rights issue exercise concluded by the bank. By this action, the total outstanding shares of the company now stood at 36,279,526,322 units,” UBA said in an issuer’s announcement with the Nigerian Stock Exchange (NSE).

The nation’s tier one bank early January opened the rights issue at N4.00 per share at the offer ratio of one (1) new ordinary share for every ten (10) ordinary shares held by its shareholders.

The lender which later readjusted its price to N3.50 kobo per share announced the successful completion of the rights issue in early July following the approval of the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).

UBA, in December 2014, had also successfully raised N30.5 billion Tier-II Capital through the issuance of Seven-Year Fixed Rate Unsecured Notes, maturing in 2021.

However, shares of the bank declined 1.63 percent at the close of business on Friday at the Nigerian bourse, losing 0.07 kobo per share.