Business
Union Bank Delists from the Nigerian Exchange After 52 Years
The bank plans to pay N7.70 per share to its shareholders in its scheme of consideration…
After 52 years of being listed on the Nigerian Stock Exchange (NGX), Union Bank of Nigeria Plc has announced its decision to delist from the NGX.
The bank plans to pay N7.70 per share to its shareholders in its scheme of consideration, following a court-ordered meeting and approval by the Federal High Court.
VerseNews reports that this was disclosed in the document signed by Somuyiwa Sonubi, Union Bank’s Company Secretary, and the Registrars will send the Scheme Consideration to all the Bank’s shareholders.
At the end of 2021, Titan Trust Bank (TTB), promoted by former CBN Deputy Governor, Tunde Lemo got the approval of the CBN to acquire an 89.4% stake in Union Bank of Nigeria.
Six months later, in June 2022, TTB completed the deal to acquire a 93.4% stake in the bank. After completing a takeover of the bank, it was announced in May 2023 that TTB was planning to pay N7 per share to acquire the remaining shares of Union Bank of Nigeria to ensure a 100% total ownership by TTB.
As of the close of trading on November 13, 2023, Union Bank of Nigeria (UBN) closed at N6.65.
More details coming soon…
‘I Am IPOB’S Voice’ — Emma Powerful Blasts ‘Fake Coup’, Declares Authority Untouched
The Indigenous People of Biafra (IPOB) has dismissed reports suggesting a change in its spokesperson, as Comrade Emma Powerful...
[JUST IN]: IPOB Issues Fresh Directive To Members Worldwide, Sets 3 Key Conditions For Biafra Restoration
The Indigenous People of Biafra (IPOB) has issued a strong directive to its members across the globe, urging strict focus...
IPOB Alleges Global Conspiracy, Demands Immediate Release of Nnamdi Kanu
The Indigenous People of Biafra (IPOB) has issued a strong statement accusing the Nigerian government and international actors of complicity...
Ejimakor Tops Legal Team in Nnamdi Kanu Case with Multiple Court, International Victories — Report
A new legal briefing has identified Barrister Aloy Ejimakor as the leading counsel in Nnamdi Kanu’s defence, citing multiple court...
BREAKING: FG Declares Easter Public Holidays
The Federal Government has announced public holidays to mark Good Friday and Easter Monday celebrations nationwide.
IPOB Praises US Lawmakers, Calls for Referendum as Nigeria Faces ‘Impending Crisis’
The Indigenous People of Biafra says recent remarks by US figures have exposed growing concerns about Nigeria’s security situation.
Aproko Doctor Warns Against ‘Live Snail’ Skincare Trend, Cites Infection Risks (Video)
Health influencer Aproko Doctor has cautioned Nigerians against using live snails on their faces, warning of serious health risks including...
ICPC Fixes Date to Arraign El-Rufai Over Alleged Corruption, Money Laundering
The ICPC has announced plans to arraign former Kaduna Governor Nasir El-Rufai in court over multiple corruption-related charges following weeks...
Apply Now: FG Opens Fully Funded Overseas Scholarship for Nigerians (2026/2027)
The Federal Government, through the NDDC, has launched applications for its fully funded foreign postgraduate scholarship, targeting young Nigerians from...
OnlyFans Owner Leo Radvinsky Dies at 43, Cause of Death Emerges
Billionaire tech entrepreneur Leo Radvinsky, owner of OnlyFans, has died at 43, leaving behind a multibillion-dollar digital empire built on...
You must be logged in to post a comment Login