Lagos - Shareholders of Unity Bank Plc have started the process of injecting fresh funds into the operations of the bank as its Rights Issue of 38.447 billion shares has opened.
The Rights Issue is being made at 50k per share to raise about N19.22 billion, reports The Nation.
The net proceeds of the rights issue would be used to finance branch expansion, infrastructure upgrade in support of automated and cashless payment, enhance information technology and additional working capital.
The Rights Issue, which closes on June 18, 2014, is on the basis of 1 ordinary share for every 1 ordinary share held as at December 16, 2013.
Read more at The Nation
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