United Bank for Africa (UBA) Plc has extended the application period for its ongoing Rights Issue by two weeks, moving the closing date from Friday, September 5, 2025, to Friday, September 19, 2025.
The bank announced the extension in a notice to the Nigerian Exchange Limited (NGX), shareholders and the investing public, stating that it had secured approval from the Securities and Exchange Commission (SEC) to implement the change.
UBA explained that the extension is aimed at giving shareholders sufficient time to exercise their rights and fully participate in the offer.
> “The extension is to ensure all shareholders are carried along and have the opportunity to take maximum advantage of the Rights Issue,” the bank said.
The Rights Issue is part of UBA’s broader capital-raising plan to strengthen its balance sheet, support loan growth and fund strategic expansion across key African markets. The move comes as Nigerian banks race to boost capital buffers in compliance with the Central Bank of Nigeria’s (CBN) new minimum capital requirements announced earlier this year.
Industry analysts note that several tier-1 banks have recently embarked on capital-raising initiatives through rights issues, public offers and private placements to maintain regulatory compliance and position for growth amid a challenging macroeconomic environment.
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