Union Bank Nigeria Plc to raise N350 billion.
July 24th, 2008 Ikechukwu Emelike || ikechukwu@stockmarketnigeria.com
Shares of Union Bank Nigeria Plc was placed on technical suspension on Monday following receipt of the company’s intention to raise N350 billion from the capital market. The money is to be raised by a combination of rights issue and public offer.
The offer for subscription would be at a unit price of N36.00, while the rights issue would be at unit price of N35.00 per share. Proceeds of the offer would be used to accelerate growth and to reclaim its competitive position in the banking industry. It would be recalled that sometime in September last year the bank got approval from its shareholders at an Extra Ordinary General Meeting to raise its authorized share capital from N7,500,000,000 to N10,000,000,000.
With a cumulative shareholders fund of over N100.50 billion, Union Bank remains one of the most capitalized banks in Nigeria, following the success of its last recapitalization drive which raked in over N55 billion from its rights issue and public offer respectively, above its initial target of N40 billion.
(6 votes, average: 2.5 out of 5)
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THIS TIME AROUND UNION BANK WILL SHAKE THE GLOBAL STAGE BECAUSE OF THE TRANSFORMATION THAT WILL TAKE PLACE FROM THE SHARE OFFER.
Thank God, Union Bank Plc is thinking of upgrading and waxing stronger as it says Big, Reliable and Strong.
I believe Union Bank is out to show that it is a world leader and a model within the banking sector. I WOULD LIKE TO HAVE A COPY OF THE PUBLIC OFFER APPLICATION FORM SENT TO MY EMAIL. TENX
Infact i trust union bank bcos it is far better than the new generations bank no magomago in their books though they may look rough but they dont steal so i will like you to send the application form to my mail box.
please forword Union Bank Nig. Plc ordinary share subscription forms for both RIGHT & PUBLIC OFFERS through my Email address.
Thanks .
De-canon investment Ltd is my stock broker please send this form to them.
Thanks in anticipations.
Please my own copy of right issue to my stock broker
ok
PLEASE ,INFORM ME WHEN I CAN BUY THE SHARES OR WHEN ITS READY.I WOULD LOVE TO BUY BIG TIME NO REFUND OF CASH TO ME ITS ALL FOR YOU..??williamschichi@yahoo.com
MEANWHILE,WHY IS THE SHARES PUT ON SUSPENSION FOR SO LONG SINCE JULY.???
kindly send a copy of union bank right issue and public offer to my email box.
thanks
Upgrading of union bank global stage is what is good, as the “big and reliable” but there are so questions but their book , are they transparent? as global crunch hit the share market, today i saw staffs of standing in street of city of london,branch of one of us bank lehman brother ,on expected files bankruptcy,economics on brink of depression? will they show public their businesses? you sure there are still big in there books?
Since UBN’s announcement to raise fresh funds, till now I’ve not seen the IPO form, and furthermore, no concrete information coming out from them. Please, I shall be grateful, if you’d post the form to me via my e-mail. Thanks
Where is the form of the offer? have been searching net to be able to download the form as i live abroad . Does anybody know the site to get the form?
Great that the biggest, strongest and most reliable one is coming out you are welcome!
Greta to have you around welcome
(RE-WHERE IS THE FORM)The form is not yet out unoin bank offer was put to suspension due to one reason or the other listed above in the page.we have all been waiting since june or july for the form.
Could one sold union bank shares even when its’ on technical suspension?
Pls send me the right issue form to my email. Thanks.
well,it is a great thing to have union bank plc coming to the market again.pls send my application form copy to my email address refered above.