The United Bank for Africa Plc (UBA) has unveiled plans to raise N157 billion through a rights issue.
In a notice to the Nigerian Exchange Limited (NGX), the bank disclosed this.
The bank, in a statement on Thursday that its stock brokers, United Capital Securities Limited, it submitted an application to the Nigerian Exchange Limited to that effect.
According to the UBA, 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 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.
“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 move is part of UBA’s strategy to strengthen its capital base and support its expansion and growth objectives across Africa,” the stated.
Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.
Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.
He had done many courses in communication, including the EU-BBC Editing Course in 2002.
Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).
He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.
He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.
Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled: Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.
