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UBA Plc Suspends Share Sale Plans


 Thursday February 9, 2012 / Reuters

Nigeria's United Bank for Africa (UBA) has suspended plans to sell shares to raise additional capital due to weak local market conditions, chief executive Phillip Oduoza said on Thursday.

"The Board and management has suspended our equity capital raising at this point in time pending when capital markets improve," he told a conference call of investors, a day after the bank issued a profit warning on its 2011 results. 

Kindly download UBA Plc Profit Warning for 2011 Results

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