The Nigerian Exchange Limited (NGX) has listed an additional 3.16 billion ordinary shares of United Bank for Africa (UBA) Plc on its Daily Official List, marking a significant boost to the bank’s market capitalisation and improving liquidity within the capital market.
The listing was confirmed in a letter to UBA dated January 12, 2026, signed by Godstime Iwenkehai, Head of the Issuer Regulation Department at NGX. He said the shares were admitted following the successful conclusion of the bank’s recent rights issue.
“Following the submission of all post-approval documents, please be informed that United Bank for Africa Plc’s Rights Issue of 3,156,869,665 ordinary shares of 50 Kobo each at N50.00 per share on the basis of one new ordinary share for every 13 ordinary shares held were formally listed on the Daily Official List of Nigerian Exchange Limited (NGX) on , Monday, 12 January 2026”, Iwenkehai stated in the letter.
UBA’s Group Managing Director/CEO, Oliver Alawuba, welcomed the confirmation, saying the development demonstrates sustained investor confidence in the bank’s capital strategy and outlook.
He stated: “We welcome the formal confirmation from NGX on the listing of our rights issue shares. This successful transaction reflects strong investor confidence in UBA’s financial strength, governance, and growth strategy. Needless to say that the additional capital will further support our Pan-African and global expansion, and enhance our capacity to deliver sustainable value to all stakeholders.”
UBA had raised N239 billion in November 2024, pushing its capital base to N355 billion at the time. The completion of this latest rights issue injected another N158 billion, increasing total capital to N513 billion.
With the fresh capital, UBA now surpasses the Central Bank of Nigeria’s N500 billion recapitalisation threshold for banks with international authorisation, placing it firmly above the regulatory benchmark.
