Finance
Union Bank commences N9.58bn rights issue
Following the recent approval granted by the Securities and Exchange Commission, SEC, Union Bank Nigeria Plc has flagged off its N9.584 billion rights issue.
According to a statement by the bank, signed by Francis Barde, Head Corporate Affairs, the offer which is expected to run between December 14, 2011 and January 20, 2012, will afford its existing shareholders the opportunity to fully participate in the recapitalisation process of the bank.
To this end, Barde said the bank is offering 1.407 billion ordinary shares to existing shareholders at N6.81 per shares
Shareholders of the bank, had at the extra-ordinary general meeting, approved the conduct of the rights issue.
The rights issue Rights also give effect to the scheme between the shareholders, AMCON and Union Global Partners Limited which would conclude the recapitalization of union
-
News1 day agoCardoso formally receives Central Bank of the Year Award
-
Economy1 day agoNigeria’s Digital Boom needs nuclear power partnerships for long-term success
-
Uncategorized1 day ago
June 12 Democracy Day declaration not enough, as citizens wallow in pain – ActionAid, FG declares Friday public holiday
-
Finance3 hours agoElon Musk becomes world’s first trillionaire as SpaceX shares soar on stock market debut
-
Stock Market3 hours agoFG to raise N4trn bond to settle electricity debt
-
Oil and Gas1 day agoNNPC is house of thieves, fraud; Kyari must be arrested dead or alive to account for N210 trillion—Oshiomhole
-
Oil and Gas1 day agoDangote Refinery seeks $1bn private placement ahead of planned listing
-
News1 day agoMiddle East Conflict sends global growth to lowest rate since COVID-19, WBG to Provide up to $100bn for Affected countries over 15 Months—WBG