The Nigerian Exchange Regulation has approved the listing of an extra 3.16 billion ordinary shares of United Bank for Africa Plc on the Daily Official List of the exchange.
The approval was conveyed in a confirmation letter dated January 12 and signed by Godstime Iwenkehai, head of issuer regulation department at the Nigerian Exchange (NGX).
The letter stated that the additional shares were admitted following the completion of the bank’s recently concluded rights issue.
The development positions United Bank for Africa (UBA) as one of the lenders that have met the new minimum capital requirement prescribed by the Central Bank of Nigeria (CBN) for banks with international authorisation.
The bank crossed the N500 billion share capital threshold after successfully raising N157.83 billion from the rights issue.
Iwenkehai said, “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 was formally listed on the Daily Official List of Nigerian Exchange Limited on Monday, 12 January 2026.”
“With this listing, the total outstanding shares of United Bank for Africa Plc listed on NGX have now increased from 41,039,305,642 ordinary shares of 50 Kobo each to 44,196,175,307 ordinary shares of 50 Kobo each.”
Oliver Alawuba, group managing director and chief executive officer of UBA, welcomed the confirmation and described it as a strong signal of investor trust in the bank’s long-term strategy.
“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,” he said.
“Needless to say, the additional capital will further support our Pan-African and global expansion and enhance our capacity to deliver sustainable value to all stakeholders.”
The bank’s interim unaudited consolidated financial statements for the period ended September 30, 2025 showed that its share capital of N20.52 billion and share premium of N329.56 billion combined to N350.08 billion.
The proceeds from the rights issue have now lifted the bank’s capital base well above the regulatory minimum requirement.
United Bank for Africa operates across 20 African countries as well as the United Kingdom, the United States, France and the United Arab Emirates.
The bank employs about 25,000 staff across its operations and provides financial services to more than 45 million customers worldwide.
