August 5, 2025/Futureview Update
Futureview Securities Limited (“FVSL”) is pleased to inform you that United Bank for Africa Plc’s (“UBA” or the “Bank” or the “Group”) Rights Issue of 3,156,869,665 ordinary shares of 50 Kobo each at ₦50.00 per share on the basis of 1 new Ordinary Share for every 13 Ordinary Shares held as at the close of business on Wednesday, 16 July, 2025 is STILL OPEN and scheduled to close on Friday, 05 September, 2025. This Rights Issue represents the second issuance under the ₦400 billion Equity Shelf Programme registered with the Securities and Exchange Commission (“SEC” or the “Commission”).
UBA is a pan-African financial services group headquartered in Lagos, Nigeria with over 75 years of operational excellence. UBA has a rich history spanning over seven (7) decades and operates in twenty-one (21) African countries and internationally in the United Kingdom, France, the USA, and the United Arab Emirates. Serving over 45 million customers, UBA provides a comprehensive range of corporate, commercial, SME, consumer and personal banking services.
The Group’s performance has remained impressive, creating value for shareholders with a c.50% y/y growth in total assets to ₦30 Trillion. Accordingly, the Bank generated ₦766 Billion as Profit After Tax for the 2024 financial year (increasing by 26% from the previous year) and declared total dividend of ₦5.00 per share, which surpasses the ₦2.80 total dividend declared in the previous year.
Please see below the summary of the Rights Issue:
Shares that are not subscribed by the date on which the Acceptance List closes will be allotted on a pro-rata (proportional) basis in line with SEC Rules and Regulations, to Shareholders who applied and paid for additional shares over and above their provisional allotment.
For more information, please refer to the documents listed below, which can be accessed through this Link:
1. The Shelf Prospectus
2. The Rights Circular
3. Acceptance Form
