NGX Lists 3.16bn Additional UBA Shares After ₦158bn Rights Issue

The Nigerian Exchange Limited has officially listed an additional 3.16 billion ordinary shares of United Bank for Africa Plc on its Daily Official List, following the successful completion of the bank’s recent rights issue.

The listing represents a significant step in strengthening UBA’s capital base and enhancing liquidity in the trading of its shares on the exchange.

The newly listed shares arose from a rights issue that offered shareholders one new ordinary share for every thirteen shares held, at an issue price of ₦50 per share. The formal listing was confirmed in a notification issued by the exchange on January 12, 2026.

With the listing, UBA’s total issued and outstanding shares increased from approximately 41.04 billion to about 44.20 billion ordinary shares, substantially expanding the bank’s equity base and market capitalisation.

The rights issue raised ₦158 billion in fresh capital. When combined with ₦239 billion raised in a previous capital exercise completed in November 2024, UBA’s total capital base now stands at ₦513 billion.

This level comfortably exceeds the minimum capital requirement set by the Central Bank of Nigeria for banks with international authorisation, positioning UBA strongly ahead of regulatory timelines.

Group Managing Director and Chief Executive Officer of UBA, Oliver Alawuba, said the successful listing reflects strong investor confidence in the bank’s financial strength, governance framework, and long-term growth strategy.

He noted that the additional capital would support the bank’s expansion across Africa and other global markets, while also enhancing its ability to invest in technology, risk management, and customer service.

UBA operates in 20 African countries as well as in the United Kingdom, the United States, France, and the United Arab Emirates, serving over 45 million customers worldwide and employing more than 25,000 people.