The Company started as a department of legacy United Bank for Africa Plc (UBA) in 1970. Our first corporate action experience was the Initial Public Offering (IPO) of UBA in the same year. From managing the register of members of the bank, we grew to managing 17 client companies and with Total Asset of N1.4 Billion by 2006.
Following the divestment of UBA Plc from the registrar business and its other non-commercial banking businesses via a Scheme of Arrangement in 2012, we became Africa Prudential Registrars Plc, a fully autonomous company which was strategically repositioned for listing on the NSE.
With close to 300,000 shareholders, one billion units of the shares of the Company was listed on the floor of the NSE on Jan 11, 2013 at N1.59 and we becamethe first registrar firm to achieve such feat in Nigeria.
Closely following the listing on the NSE, the Company opened a Rights Issue for additional One Billion Ordinary Shares of 50 Kobo each. The offer was fully subscribed, owing to strong investor confidence. Still in 2013, we acquired UAC Registrars Limited, the biggest conglomerate Registrar in Nigeria. At the completion of the two milestone transactions, Total Asset had grown to N18 Billion.
In 2017, the Company rolled out its diversification strategy into the digital technology space. A new corporate identity was announced. The word ‘registrar’ was dropped, and the company became Africa Prudential Plc. The change of name was a strategic decision which enabled the company better harness its emerging potentials, while keeping its service promise to clients, and maximising possibilities for stakeholders.
Pushing forward on the digital technology drive, Africa Prudential announced the launch of its Innovation Lab where the digital technology team engage in cloud computing, cybersecurity, acceleration program for tech start-ups, development of various tech platforms for the capital market, automated registrar service, and offer of Software as a Service (SaaS).