The Nigerian Exchange Limited (NGX) has confirmed the listing of 3,156,869,665 additional ordinary shares of United Bank for Africa (UBA) Plc on its Daily Official List, a move that increases the bank’s capital base and deepens trading liquidity on Nigeria’s capital market, the bourse said on Thursday, January 15, 2026.
The listing was formalised following the successful conclusion of UBA’s recent rights issue exercise. In a confirmation letter dated January 12, 2026, the Head of the Issuer Regulation Department at NGX, Godstime Iwenkehai, said the additional shares were admitted after all required post‑approval documentation was submitted.
The rights issue offered one new ordinary share for every 13 shares held at ₦50 per share.
UBA’s Group Managing Director and CEO, Oliver Alawuba, welcomed the listing, saying it reflects strong investor confidence in the bank’s capital strategy and future prospects.
He noted that the additional capital will support Pan‑African and global expansion, and help the bank deliver lasting value to stakeholders.
The listing follows earlier capital raising by UBA. In November 2024, the bank raised ₦239 billion, elevating its capital base to ₦355 billion at that time.
The recently concluded rights issue added another ₦158 billion, bringing UBA’s total capital base to ₦513 billion — surpassing the ₦500 billion minimum capital requirement set by the Central Bank of Nigeria (CBN) for banks with international authorisation.
The enlarged share listing is expected to deepen liquidity on the NGX by increasing the volume of UBA shares available for trading.
Market analysts say expanded share supply can attract greater investor participation and support more active price discovery, especially in large‑cap financial stocks.
UBA operates in more than 20 African countries and in major global markets including the United Kingdom, United States, France and the United Arab Emirates, serving over 45 million customers and employing about 25,000 staff worldwide. Its expanded capital base reinforces its capacity to compete regionally and internationally.
With the additional shares now listed, UBA’s board and management will focus on deploying the enhanced capital toward strategic growth initiatives, including expansion of its service offerings and strengthening its presence in key markets.
