Union Bank 2017 Rights Issue Opens Today; Closes October 30th, 2017


September 20, 2017/CardinalStone Research

Please be informed that Union Bank of NigeriaPlc (UBN) is issuing 12.1 billion ordinary shares of 50 kobo each to existing shareholders at N4.10 per share to raise N50 billion in new equity funds as the first generation bank looks beyond its centenary.

The rights issue will be available to shareholders on the basis of five new ordinary shares for every seven ordinary shares held as at the close of business on Monday August 21, 2017. The offer period opens today September 20, 2017 and closes on October 30, 2017.