UBA lists 3.16 billion rights shares on NGX, raising its capital base above N500bn and strengthening investor confidence

The Nigerian Exchange Limited, NGX, has admitted an additional 3.16 billion ordinary shares of United Bank for Africa, UBA, Plc, to its daily official list, following the successful conclusion of the bank’s recent rights issuance exercise.

Also read: NGX admits UBA shares as capital comfortably exceeds CBN rule

The development is expected to significantly enhance UBA’s market capitalisation while deepening liquidity on the Nigerian capital market.

NGX confirmed the listing in a letter dated 12 January 2026, signed by Godstime Iwenkehai, Head of the Issuer Regulation Department.

The letter outlined that the 3,156,869,665 new ordinary shares, issued at 50 Kobo each at N50 per share on the basis of one new share for every 13 held, were formally listed on the Daily Official List.

UBA Group Managing Director and CEO, Oliver Alawuba, welcomed the confirmation, describing the listing as a reflection of strong investor confidence in the bank’s capitalisation strategy and future prospects.

“This successful transaction reflects strong investor confidence in UBA’s financial strength, governance, and growth strategy. The additional capital will further support our Pan-African and global expansion, and enhance our capacity to deliver sustainable value to all stakeholders,” he said.

The rights issue, following a previous N239 billion raise in November 2024, has now injected an additional N158 billion, bringing UBA’s total capital base to N513 billion.

This positions the bank well above the Central Bank of Nigeria’s minimum N500 billion capital requirement for internationally authorised banks.

Also read: NGX confirms listing of 3.156billion UBA shares, deepening liquidity, market capitalisation

The listing signals a milestone in UBA’s growth strategy and demonstrates continued confidence from domestic and international investors in the bank’s financial and operational strength.