United Bank for Africa Plc (UBA) has announced plans to raise N157 billion through a rights issue.

The bank disclosed this Thursday in a notice to the Nigerian Exchange Ltd (NGX).

The Bank explained that its stock brokers, United Capital Securities Ltd had submitted an application to the Nigerian Exchange Ltd. to that effect.

It said that its stock brokers had requested for approval and listing of a Rights Issue of 3,156,869,665 ordinary shares of 50 Kobo each at N50.00 per share

“Trading License Holders are hereby notified that United Bank for Africa Plc, through its Stockbrokers, United Capital Securities Ltd., has submitted an application to the Nigerian Exchange Ltd.” in that regard.

“The rights issue will be on the basis of one new ordinary share for every 13 ordinary shares held as of the close of business on Wednesday, July 16, 2025.

“The qualification date for the Rights Issue is July 16, 2025,” the bank stated.

The move is part of the bank’s strategy to strengthen its capital base and support expansion and growth objectives across Africa.