The Nigerian Exchange Limited (NGX) has admitted an additional 3.16 billion ordinary shares of United Bank for Africa (UBA) Plc to its Daily Official List, signalling a significant boost to the bank’s market capitalisation and deepening liquidity in the capital market.
The NGX confirmed the listing in a letter dated January 12, 2026, signed by Godstime Iwenkehai, Head of the Issuer Regulation Department. Iwenkehai explained that the additional shares were listed following the successful conclusion of UBA’s recent rights issuance exercise.
According to the letter, the listing covers UBA’s Rights Issue of 3,156,869,665 ordinary shares of 50 Kobo each at N50.00 per share, offered on the basis of one new ordinary share for every 13 ordinary shares held.
UBA’s Group Managing Director/CEO, Oliver Alawuba, described the confirmation as a testament to robust investor confidence in the bank’s capitalisation strategy and future prospects.
He noted that the successful transaction reflects strong faith in UBA’s financial strength, governance, and growth strategy.
Alawuba added that the additional capital will further support the bank’s Pan-African and global expansion, enhancing its capacity to deliver sustainable value to stakeholders. UBA currently employs 25,000 people group-wide and serves over 45 million customers globally.
The financial impact of the listing is significant for the bank’s regulatory standing. In November 2024, UBA raised N239 billion, elevating its capital base to N355 billion. The recently concluded rights issue injected an additional N158 billion, bringing the bank’s total capital to N513 billion.
With this latest influx, UBA’s qualifying capital base now surpasses the N500 billion requirement set by the Central Bank of Nigeria (CBN), effectively exceeding the recapitalisation minimum required for banks with international authorisation.