Tag Archives: Rights Issue

Union Bank To Deploy Fresh Capital To Business Areas In 2018

By Nse Anthony-Uko (Sundiata Finance) – Chief executive officer of Union Bank, Mr. Emeka Emuwa, has the bank would deploy fresh capital across identified business areas and it is expected to increase capacity to serve customers better while accelerating the speed of doing business in 2018 and delivering returns to investors in short to medium term. In a statement issued ...

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Flourmills To Commences N39.9bn Rights Issue

By Nse Anthony-Uko (Sundiata Finance) – Flour Mills of Nigeria (FMN) Plc at the weekend said it would be raising an additional capital of N39.9 billion through its existing shareholders. Following the receipt of shareholders’ approval in May 2015 to raise additional capital through rights issue, the company had received clearance of the issue documents from the Securities and Exchange ...

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UAC Seeks N15.4bn Fresh Capital from Rights Issue

By Nse Anthony-Uko (Sundiata Finance) — UAC of Nigeria Plc is shopping for N15.37 billion fresh capital from existing shareholders to boost its operations so as the record improved performance and deliver competitive returns to shareholders in the years ahead. Specifically, UACN is making a Rights Issue of 960,432,193 ordinary shares of 50 kobo each at N16 per share to ...

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Union Bank Gets SEC Approval To Raise N50bn Rights Issue

(Sundiata Finance) – Following the announcement that it will float a N50 billion rights issue in 2017, Union Bank has received approvals from the Securities and Exchange Commission (SEC) to move forward on raising the Tier 1 capital. The lender in a statement said it anticipates that the rights issue will be open for subscription in September 2017. During the ...

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Union Bank Seeks N49.75bn Fresh Capital Via Rights Issue

By Nse Anthony-Uko (Sundiata Finance) – The management of the Nigerian Stock Exchange (NSE) informed the dealing members firms of an application by Union Bank of Nigeria Plc seeking approval to issue and thereafter list new shares valued at N49.75 billion by way of rights. According to the acting head, Listings Regulation Department at the NSE, Godstime Iwenekhai, the application ...

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