The Nigerian Exchange Limited has confirmed the listing of an additional 3.16 billion ordinary shares of United Bank for Africa Plc on its Daily Official List, a move expected to boost the bank’s market value and enhance liquidity in the equities market.
The confirmation was conveyed in a letter dated January 12, 2026, signed by the Head of the Issuer Regulation Department at NGX, Mr Godstime Iwenkehai. The exchange stated that the new shares were admitted following the successful completion of UBA’s recent rights issue.
According to the NGX, a total of 3,156,869,665 ordinary shares of 50 kobo each, priced at N50 per share, were listed after the bank fulfilled all post approval requirements. The rights issue was offered on the basis of one new share for every 13 ordinary shares previously held by shareholders.
The Group Managing Director and Chief Executive Officer of UBA, Mr Oliver Alawuba, welcomed the development, describing it as a strong signal of investor confidence in the bank’s financial strategy and long term outlook.
Alawuba said the successful listing reflected the confidence of shareholders in UBA’s governance framework, growth plans, and financial strength. He added that the additional capital would strengthen the bank’s capacity to expand its Pan African and global operations while delivering sustainable returns to stakeholders.
UBA had earlier raised N239bn in November 2024, which increased its capital base to N355bn. The recently concluded rights issue added another N158bn, taking the bank’s total capital to N513bn.
With the latest increase, UBA’s qualifying capital now exceeds the N500bn minimum requirement set by the Central Bank of Nigeria for banks with international operating licences, positioning the lender strongly ahead of the ongoing banking sector recapitalisation.
