The Move by UBA Has Drives Up Share Price To One-Month High
UBA is planning to sell the Abuja Electricity Distribution Company (AEDC) to recover a debt of N56bn.
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The bank took over AEDC in December 2021 after its major stakeholder, Kann Consortium, defaulted on a loan.
The planned sale has led to an increase in UBA’s share price, as investors see it as a positive strategic move.
