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, a move expected to significantly boost the bank’s market capitalisation and deepen liquidity in the capital market.
In a confirmatory letter dated January 12, 2026, the NGX said the additional shares were listed following the successful completion of UBA’s recent rights issue. The letter, signed by the Head of the Issuer Regulation Department at NGX, Godstime Iwenkehai, confirmed that 3,156,869,665 ordinary shares of 50 kobo each, offered at N50 per share on the basis of one new share for every 13 shares held, were formally listed on Monday, January 12, 2026.
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UBA’s Group Managing Director and Chief Executive Officer, Oliver Alawuba, welcomed the development, describing it as a strong signal of investor confidence in the bank’s capital strategy and long-term growth prospects.
He said the successful listing reflects confidence in UBA’s financial strength, governance and expansion plans, noting that the additional capital will support the bank’s Pan-African and global growth ambitions while enhancing its ability to deliver sustainable value to stakeholders.
The rights issue injected N158 billion into UBA’s capital base, coming on the back of the N239 billion raised in November 2024, which had lifted the bank’s capital to N355 billion at the time. With the latest inflow, UBA’s total capital has now risen to N513 billion.
This means the bank’s qualifying capital base has surpassed the N500 billion minimum requirement set by the Central Bank of Nigeria (CBN) for banks with international authorisation, placing UBA comfortably above the recapitalisation threshold.
United Bank for Africa is one of the largest financial institutions on the African continent, employing about 25,000 staff and serving more than 45 million customers worldwide. The bank operates in 20 African countries, as well as the United Kingdom, the United States, France and the United Arab Emirates, offering retail, commercial and institutional banking services while driving financial inclusion and technology-led innovation.
