Nigeria’s Union Bank aims to close $137 mln share sale year-end

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LAGOS – Nigeria’s Union Bank expects to close the sale of a 50 billion naira ($137 mln) share issue by the end of the year and hopes to win regulatory approval for it this quarter, it said on Monday.

The mid-tier bank has said it planned to raise fresh funds to boost its capital adequacy and tap opportunities to lend to agribusinesses.

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