United Bank for Africa Plc has prolonged the deadline for its N157 billion equity offer, now closing September 19, 2025, instead of the initially planned September 5.
The extension is part of UBA’s strategy to meet the Central Bank of Nigeria’s directive that banks increase their capital base to N500 billion. The latest rights offer involves the issuance of approximately 3.16 billion ordinary shares at N50 each, representing one new share for every thirteen shares currently held by shareholders as of July 16, 2025. This follows a successful previous tranche in November 2024 where UBA raised N239 billion at a lower price per share .
In the first quarter of 2025, the bank posted a pre-tax profit of N204.27 billion, reflecting a 30.65% increase over the same period the previous year. Net profit grew by 33.15%, reaching nearly N190 billion, driven mainly by a 36% jump in interest income from loans and investments. These impressive results increased investor confidence and set the stage for the current capital enhancement effort .
With the deadline extension, shareholders now have until September 19, 2025, to subscribe to the rights offer, reinforcing their investment in Africa’s leading financial institution. This expanded timeline aims to ensure robust participation, helping UBA meet the CBN’s recapitalization threshold and continue its growth trajectory.
