By Amina Chukwuma
The Nigerian Exchange Limited (NGX) has officially 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 overall liquidity in the capital market.
In a letter dated January 12, 2026, signed by NGX’s Head of Issuer Regulation Department, Godstime Iwenkehai, the Exchange confirmed that the shares were admitted following the successful completion of UBA’s recent rights issue exercise.
“Following the submission of all post-approval documents, please be informed that United Bank for Africa Plc 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,” the letter stated.
UBA’s Group Managing Director/CEO, Oliver Alawuba, welcomed the confirmation, noting that the listing reflects strong investor confidence in the bank’s capitalisation strategy and long-term growth prospects.
“This successful transaction underscores investor trust in UBA’s financial strength, governance, and expansion strategy. The additional capital will further support our Pan-African and global ambitions while enhancing our ability to deliver sustainable value to stakeholders,” Alawuba said.
The bank had previously raised N239 billion in November 2024, increasing its capital base to N355 billion. The latest rights issue injected an additional N158 billion, bringing UBA’s total capital to N513 billion.
With this development, UBA’s capital base now surpasses the N500 billion recapitalisation threshold set by the Central Bank of Nigeria (CBN) for banks with international authorisation, positioning the institution strongly for future growth.
