• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, June 30, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Retail Shareholders In Massive Rally For UBA’s N239.4bn Offer

by Olushola Bello
7 months ago
in Business
UBA Bank plc
Share on WhatsAppShare on FacebookShare on XTelegram

The United Bank for Africa (UBA) Plc’s N239.4 billion rights issue got off to a momentous start as shareholders indicated interests to buy more shares in the pan-Africa banking group.

Advertisement

UBA has opened an acceptance list for a N239.4 billion rights issue, offering 6.84 billion ordinary shares of 50 kobo each to existing shareholders at N35 per share. The rights issue is pre-allotted on the basis of one new ordinary share of 50 kobo each to every five ordinary shares held as at November 05, 2024. The rights issue is scheduled to close on December 24, 2024.

Shareholders across Nigeria’s leading shareholders’ associations said they were mobilising support for the N239.4 billion rights issue, describing the offer as a golden opportunity to lock in more values in the bank that has shown exceptional returns to shareholders.

UBA, which pays dividends twice a year, recently paid an interim dividend of N2 per share on its first half results, the highest payout by any bank and one of the three highest yields in the entire stock market.

Minority retail shareholders constitute nearly three-quarters of UBA’s nearly 280,000 shareholders. More than 200,000 shareholders hold between one and 10,000 ordinary shares in one of Nigeria’s oldest most-widely owned banking groups. Only one shareholder holds a substantial equity stake of 5.30 per cent, as at the last audit.

RELATED

Federal Gov’t, IFAD Train 600 Farmers In Budgeting, Farming Techniques In Benue

We’re Making Abia Farmers Globally Visible – Agric Firm

18 hours ago
Marginal Field Awardees: NUPRC Restates Commitment To Transparency Culture

Oil Prices Plunge 6% As Middle East Ceasefire Eases Supply Fears

21 hours ago

In separate interviews, shareholders leaders and activists said UBA’s outstanding performance in creating values for shareholders through capital gains and dividends as well as its unique decision to distribute free shares to all shareholders that made them to be shareholders in at least four companies, all paying them dividends regularly.

The shareholders made reference to the situation in 2010 when the Central Bank of Nigeria (CBN) repealed universal banking licenses and issued the Regulation on Scope of Banking Activities & Ancillary Matters, No. 3 which became effective on November 15, 2010; prohibiting banks from undertaking non-banking activities.

While several banks had then opted to sell their non-banking subsidiaries, UBA alone had decided in a unique approach to unbundle the subsidiaries as standalone companies through distribution of their shares to all shareholders.

Founder, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, said UBA’s longstanding history of positive disposition to shareholders have endeared the group to the investing public.

He said the bank has proven to be dependable and resilient, noting that not only is UBA doing extremely well in its home market, but all its subsidiaries across Africa and beyond are also doing well.

Nwosu urged shareholders to pick up their rights, affirming that “he and members have already indicated interests in picking up their rights.”

President, Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr. Faruk Umar said the decision to undertake a rights issue to existing shareholders underscores continuing trust between the bank and its shareholders.

Citing the performance of the bank in the past three quarters and its record-setting interim dividend of N2 per share, Umar described UBA as a ‘solid bank’ with a lot more to offer the shareholders in the future.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


SendShareTweetShare
Previous Post

FRC Unveils Valuation Regulations To Enhance Financial Reporting Integrity

Next Post

Transport Fare Moderates By 18.72% In October

Olushola Bello

Olushola Bello

You May Like

Federal Gov’t, IFAD Train 600 Farmers In Budgeting, Farming Techniques In Benue
Agriculture

We’re Making Abia Farmers Globally Visible – Agric Firm

2025/06/29
Marginal Field Awardees: NUPRC Restates Commitment To Transparency Culture
Business

Oil Prices Plunge 6% As Middle East Ceasefire Eases Supply Fears

2025/06/29
New Afreximbank President To Restructure African Trade
Business

New Afreximbank President To Restructure African Trade

2025/06/29
Oyetola
Business

Federal Gov’t Launches Life-jacket Safety Initiative

2025/06/29
Tech Scholar To Drive Academic Vision As OAU’s New DVC
Business

Tech Scholar To Drive Academic Vision As OAU’s New DVC

2025/06/29
MONEY MARKET: Assessing Customers’ Losses To Fraudsters Through Digital Banking
Business

Cybercrime: Half Of Victims Paid Ransom In 2025

2025/06/29
Leadership Conference advertisement

LATEST

June 12: Dangiwa Umar Reacts To National Honour By Tinubu, Reveals 38 Other ‘Unsung Heroes’

Meet Top 20 Nigerian Techies Driving Innovations In 2025

Kalu Seeks Debt Cancellation To Ease Africa’s Burden

Aviation Ministry Worker Convicted Over Employment Fraud

Police Arrest Arrowhead Of Child Theft Syndicate, Rescue 12 Minors 

Abakaliki FC In Minor Road Accident After Federation Cup Defeat

CWC: PSG Thrash Lionel Messi’s Inter Miami 4-0, Advance To Quarterfinals

Soldiers Kill Terrorist Kingpin Mai Dada, Recover Weapons

Abducted Benue Links Bus Passengers Regain Freedom After 1 Week In Captivity

Okunbo Foundation Expands Artistic Opportunity In Nigeria

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.