NGX Lists 3.16 Billion Additional Shares of UBA

The Nigerian Exchange Limited (NGX) has officially listed 3,156,869,665 additional ordinary shares of United Bank for Africa Plc (UBA) on its Daily Official List, strengthening the bank’s capital base and enhancing liquidity in the Nigerian capital market.

The listing follows the successful conclusion of UBA’s recent rights issue, which offered shareholders one new share for every 13 held at N50 per share. With this addition, UBA’s total outstanding shares on NGX have increased from 41,039,305,642 to 44,196,175,307 ordinary shares. The move significantly boosts the bank’s market capitalisation and is expected to improve trading liquidity for its stock.

The NGX confirmed the listing in a letter dated 12 January 2026, signed by Godstime Iwenkehai, Head of the Issuer Regulation Department. Iwenkehai stated, “Following the submission of all post-approval documents, United Bank for Africa Plc’s Rights Issue of 3,156,869,665 ordinary shares of 50 kobo each at N50 per share was formally listed on the Daily Official List of Nigerian Exchange Limited on Monday, 12 January 2026.”

UBA’s Group Managing Director and Chief Executive Officer, Oliver Alawuba, welcomed the confirmation, describing it as a strong indicator of investor confidence. “The formal listing of our rights issue shares reflects market trust in UBA’s financial strength, governance, and growth strategy. The additional capital will further support our Pan-African and global expansion and enhance our ability to deliver sustainable value to all stakeholders,” he said.

The rights issue raised N158 billion for UBA, bringing the bank’s total capital base to N513 billion when combined with the N239 billion raised in November 2024. This ensures that UBA’s qualifying capital comfortably exceeds the N500 billion minimum required by the Central Bank of Nigeria for banks with international authorisation, solidifying its position as one of Nigeria’s leading financial institutions.

UBA is a major employer in the African financial sector, with over 25,000 employees serving more than 45 million customers globally. The bank operates in 20 African countries, as well as in the United Kingdom, United States, France, and the United Arab Emirates, offering a wide range of retail, commercial, and institutional banking services.