United Bank for Africa Plc has announced the extension of the acceptance period for its ongoing rights issue by two weeks, moving the deadline from September 5 to September 19, 2025.

The lender, in a notice to the Nigerian Exchange Limited and the investing public, said the extension followed approval from the Securities and Exchange Commission.

“United Bank for Africa Plc (the Bank) hereby notifies its shareholders, the Nigerian Exchange Limited, stakeholders, and the general public that the acceptance/application period for its ongoing Rights Issue, initially scheduled to close on Friday, September 5, 2025, has been extended by two weeks and will now close on Friday, September 19, 2025, following the receipt of approval from the Securities and Exchange Commission. This extension is aimed at providing shareholders with additional time to fully exercise their rights and participate in the Rights Issue,” the statement partly reads.

According to the bank, the move is aimed at giving shareholders additional time to fully exercise their rights and participate in the offer.

“The bank remains committed to ensuring that all shareholders are adequately carried along in the process and can maximise the benefits of the rights issue,” the statement added.

The bank advised shareholders and stakeholders seeking further details to contact its Investor Relations team.

The PUNCH reported that United Bank for Africa Plc has announced plans to raise over N157bn through a rights issue.

The bank, through its stockbrokers, United Capital Securities Limited, has submitted an application for the approval and listing of a rights issue of 3,156,869,665 ordinary shares of 50 kobo each at N50.00 per share.

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