The Rights Issue was offered to existing shareholders on the basis of one (1) new ordinary share for every five (5) ordinary shares held as of the close of business on Tuesday, November 5, 2024. This recent listing stems from UBA's broader Rights Issue, which encompassed a total of 34,199,421,368 ordinary shares, each valued at 50 Kobo, also offered at N35.00 per share.
With the inclusion of these 6,839,884,274 new ordinary shares, the total issued and fully paid-up shares of United Bank for Africa Plc have now expanded considerably. The bank's share count has increased from 34,199,421,368 to 41,039,305,642 ordinary shares, each with a nominal value of 50 Kobo.
This expansion in share capital reflects a successful fundraising effort by the banking institution, aimed at strengthening its financial position and supporting its strategic growth objectives. The listing on the NGX provides increased liquidity and trading opportunities for investors in UBA's shares.