The Nigerian Exchange has confirmed the listing of 3.156 billion new UBA shares following a rights issue, lifting the bank’s capital base to N513 billion and deepening market liquidity
The Nigerian Exchange Limited has confirmed the listing of an additional 3.156 billion ordinary shares of United Bank for Africa Plc on its Daily Official List, a development expected to significantly deepen liquidity and boost the bank’s market capitalisation.
The confirmation was contained in a letter dated January 12, 2026, issued to UBA by the Exchange and signed by the Head of the Issuer Regulation Department, Godstime Iwenkehai.
According to the Exchange, the additional shares were admitted following the successful completion of the bank’s recent rights issue.
NGX stated that the exercise involved the listing of 3,156,869,665 ordinary shares of 50 kobo each at N50 per share, offered on the basis of one new ordinary share for every 13 ordinary shares held. The shares were formally listed on Monday, January 12, 2026.
UBA’s Group Managing Director and Chief Executive Officer, Oliver Alawuba, welcomed the confirmation, describing it as a clear reflection of strong investor confidence in the bank’s financial strength, governance framework and growth strategy.
He noted that the successful transaction would further strengthen UBA’s capital position, support its Pan-African and global expansion plans, and enhance its capacity to deliver sustainable value to shareholders and other stakeholders.
Also read: UBA, GTBank, 14 other Nigerian banks meet CBN recapitalisation rules early
The listing builds on UBA’s recent capital-raising efforts. In November 2024, the bank raised N239 billion, which raised its capital base to N355 billion at the time.
The recently concluded rights issue added another N158 billion, bringing the bank’s total capital to N513 billion.
With this increase, UBA’s qualifying capital base now exceeds the N500 billion minimum requirement set by the Central Bank of Nigeria for banks with international authorisation, placing the lender in a strong position within the ongoing banking sector recapitalisation exercise.
United Bank for Africa is one of Africa’s largest financial institutions, employing about 25,000 people across its operations and serving over 45 million customers globally.
The bank operates in 20 African countries, as well as the United Kingdom, the United States, France and the United Arab Emirates, providing retail, commercial and institutional banking services while driving financial inclusion through technology-led solutions.
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