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Nov. 18 (Bloomberg) -- Shareholders of United Bank for Africa Plc have approved the Nigerian lender’s plans to raise capital for business expansion, Chairman Israel Ogbue said.
“The bank will issue 12.7 billion ordinary shares by any of a special placing, a rights issue or a public offering at a price and on terms that will be determined by the directors,” Ogbue told reporters today in Lagos, the commercial capital.
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