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Union Bank Delists From The Nigerian Stock Exchange After 52 Years - Investment - Nairaland

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Union Bank Delists From The Nigerian Stock Exchange After 52 Years by nlfpmod: 8:29pm On Nov 14, 2023
After 52 years of listing on the Nigerian Stock Exchange, Union Bank of Nigeria Plc has announced that it would be delisting from the NGX.

According to a corporate filing on the NGX website obtained by Nairametrics, the bank announced it is considering a payout of N7.70 per share to its shareholders in its scheme of consideration.

In the document signed by Somuyiwa Sonubi, Union Bank’s Company Secretary, the Registrars will send the Scheme Consideration to all the Bank’s shareholders. It is noted that this will follow the decision that will be made during the Court-Ordered Meeting as well as approval given by the Federal High Court.

What you should know

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 100% total ownership by TTB.

As of the close of trading on November 13, 2023, Union Bank of Nigeria (UBN) closed at N6.65.

https://nairametrics.com/2023/11/14/union-bank-delists-from-the-nigerian-exchange-after-52-years/?amp=1

7 Likes 2 Shares

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by PlayMaker14: 8:34pm On Nov 14, 2023
Union Bank has always give us that “Ancient of Days” of days vibe.


They're always behind like woman yansh.


I wish them and their pensioner customers the very best.

70 Likes 1 Share

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by dedonfranco(m): 8:34pm On Nov 14, 2023
What happens to people who bought shares from them.....People who invested their money?

6 Likes

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by slaawomirr: 8:39pm On Nov 14, 2023
Damnnn niggar
A moment of silence for union bank

34 Likes 1 Share

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by wittywriter: 8:40pm On Nov 14, 2023
PlayMaker14:
Union Bank has always give us that “Ancient of Days” of days vibe.


They're always behind like woman yansh.


I wish them and their pensioner customers the very best.

dedonfranco:
What happens to people who bought shares from them.....People who invested their money?

Delisting to upgrade or downgrade? Lolz





Wittyness

8 Likes 2 Shares

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by Austriaopen(m): 8:40pm On Nov 14, 2023
dedonfranco:
What happens to people who bought shares from them.....People who invested their money?

Otilo

5 Likes

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by zacchybros: 8:41pm On Nov 14, 2023
Naso

Money men

2 Likes

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by OgaTheTop2: 8:41pm On Nov 14, 2023
Even the banks! The banks are feeling it.. Feeling the renewed hopelessness.

34 Likes

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by NwaNimo1(m): 8:41pm On Nov 14, 2023

2 Likes

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by jojothaiv(m): 8:42pm On Nov 14, 2023
Damn...

OgaTheTop2:
Even the banks! The banks are feeling it.. Feeling the renewed hopelessness.
But some of them declared massive profit before tax na..

8 Likes

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by 3ice9ce: 8:42pm On Nov 14, 2023
dedonfranco:
What happens to people who bought shares from them.....People who invested their money?

They are buying them out. 7.7 Naira per share

26 Likes 1 Share

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by UncleKoboko: 8:43pm On Nov 14, 2023
Interesting.

I GUESS THE BANK WILL LIQUIDATE SOON.

THIS IS THIEF-BUHARÌ'S BANK - FORMER IDIOTIC USELESS PRESIDENT.

IT'S THE BANK THAT HELPED HIM TO STEAL AND KEEP ALL HIS LOOTS.

I GUESS HE HAS WITHDRAWN ALL HIS LOOT NOW AND THE BANK IS ABOUT TO BE BANKRUPTED.

If you know what's good for you, quickly withdraw any money you have left in that useless bank.

12 Likes 3 Shares

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by 3ice9ce: 8:43pm On Nov 14, 2023
OgaTheTop2:
Even the banks! The banks are feeling it.. Feeling the renewed hopelessness.

You must be one of those who used 10 years to study philosophy.
You are slow in the head.

52 Likes 4 Shares

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by adesegun121(m): 8:44pm On Nov 14, 2023
Ok
Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by Resetinc: 8:45pm On Nov 14, 2023
Nonsense bank, followed by UBA

5 Likes 1 Share

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by viodemus: 8:45pm On Nov 14, 2023
when will brown teeth use creativity and fairness for all to help the country.

2 Likes

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by Eleph(m): 8:45pm On Nov 14, 2023
So sad it has to end this way!
Bad leadership quality of the CEO/MD who rose through the ranks from Akwa Ibom State.

2 Likes

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by Adjovi: 8:45pm On Nov 14, 2023
My bank. One of the best banks in Nigeria if not the best self. I've been using them since 2016 and I've not had any issues with them at all. People call them old peoples bank but they have upgraded a lot and better than most of Una young people bank.

40 Likes 3 Shares

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by FOOTSOLDIER2(f): 8:46pm On Nov 14, 2023
Tinubu effect cheesy

Yoruba people and APC have scattered this country.

I am full blooded Kaduna state girl, both parents are from the same village. don't think I should support evil because I am a northerner

10 Likes

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by Kobicove(m): 8:46pm On Nov 14, 2023
That means it will now become a privately held company undecided

6 Likes

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by b0rn2fuck(m): 8:47pm On Nov 14, 2023
Dey whine, Nigeria sweet die
Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by mrrandomguy: 8:49pm On Nov 14, 2023
Nothing is permanent in this life. But the blood of Jesus Christ is always there for us. Surrender your life to Jesus, accept Him as your Lord and Saviour today.

21 Likes 2 Shares

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by Ashirioluwa: 8:50pm On Nov 14, 2023
dedonfranco:
What happens to people who bought shares from them.....People who invested their money?

Read the post again.

According to a corporate filing on the NGX website obtained by Nairametrics, the bank announced it is considering a payout of N7.70 per share to its shareholders in its scheme of consideration.

4 Likes

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by Egalitarian1: 8:50pm On Nov 14, 2023
Okpokoro Bank
Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by MANNABBQGRILLS: 8:51pm On Nov 14, 2023
CBN Deputy Governor, 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.

6 Likes 2 Shares

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by themanderon: 8:52pm On Nov 14, 2023
Union Bank, Big, strong, reliable. So Nigeria is finally catching up with you. So sad. One of the most strongest banks in the 90's after First Bank. Nigeria has killed many, many companies.

9 Likes

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by Tareq1105: 8:53pm On Nov 14, 2023
3ice9ce:


You must be one of those who used 10 years to study philosophy.
Obidients would come for you.

3 Likes

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by AntiChristian: 8:53pm On Nov 14, 2023
Union Bank! Big, strong , reliable!

What a time!

Old Gen banks First bank, Wema and Union Banks...

First bank o, Una do well o!

First bank o, Una well done o!

Bank wey dey help fishermen help farmer o,....

3 Likes 1 Share

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by BrickDevo: 8:53pm On Nov 14, 2023
Nigerian stock exchange, i am yet to see anyone who has profited from it

9 Likes

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by sirjamesjnr(m): 8:54pm On Nov 14, 2023
slaawomirr:
Damnnn niggar
A moment of silence for union bank
Happy you are back.

1 Like

Re: Union Bank Delists From The Nigerian Stock Exchange After 52 Years by seunlayi(m): 8:56pm On Nov 14, 2023
Okay o

1 Like 1 Share

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