United Bank for Africa Plc (UBA) has extended the acceptance and application period for its ongoing Rights Issue by two weeks, shifting the closing date from September 5 to September 19, 2025. The extension was approved by the Securities and Exchange Commission (SEC).
The move signals the bank’s intention to give shareholders more room to participate, particularly in a capital market environment where investors often take a cautious approach before committing funds. Analysts note that extensions of this kind are not unusual, especially when issuers want to ensure broad participation to meet capital-raising targets.
UBA emphasized that the adjustment is designed to “provide shareholders with additional time to fully exercise their rights and participate in the Rights Issue,” reaffirming its commitment to shareholder inclusivity.
Market watchers believe the extension could also be strategic, allowing the bank to maximize subscription levels amid tight liquidity conditions and competing investment opportunities in Nigeria’s financial markets. By extending the timeline, UBA gives institutional and retail investors a longer window to mobilize funds, which could be crucial for the success of the offer.
Shareholders and interested investors seeking clarification or additional information are advised to reach out to UBA’s Investor Relations team via investorrelations@ubagroup.com
or call +2342012808798.
The notice was issued by Bili A. Odum, Group Company Secretary and Legal Counsel, on behalf of the Board.
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