The Nigerian Exchange Limited (NGX) has officially added 3.16 billion new ordinary shares of United Bank for Africa (UBA) Plc to its Daily Official List, the exchange confirmed in a letter dated January 12, 2026.
The move follows the successful conclusion of UBA’s latest rights issue exercise, stock market sources say.
In the letter, Godstime Iwenkehai, Head of the Issuer Regulation Department at NGX, said the additional shares are being listed on the exchange after all required post‑approval documents were submitted.
The rights issue offered shareholders one new share for every 13 shares held, at ₦50 per share, a standard way companies raise capital from existing investors.
The rights issue, which raised about ₦158 billion for UBA, increased the bank’s total outstanding shares on the NGX from around 41 billion to about 44.2 billion ordinary shares.
The listing deepens market liquidity — the ease with which shares can be bought and sold — and enhances UBA’s market capitalisation, reflecting broader investor participation and confidence.
UBA’s Group Managing Director and CEO, Oliver Alawuba, welcomed the confirmation from NGX. He said the successful listing shows “strong investor confidence in the bank’s financial strength, governance and growth strategy” and noted that the extra capital will support UBA’s Pan‑African and global expansion plans.
The additional listing also positions UBA’s capital base well above the ₦500 billion minimum requirement set by the Central Bank of Nigeria (CBN) for banks with international authorisation, a regulatory threshold linked to recapitalisation rules and global banking standards.
UBA operates in about 20 African countries as well as in the United Kingdom, United States, France and the United Arab Emirates, serving millions of customers and employing tens of thousands of workers across its network.
The expanded share listing is seen as a key step in strengthening the bank’s financial foundation for future growth.
Market analysts say that such share admissions can improve trading activity on the NGX and signal strong investor confidence in Nigeria’s financial sector, which remains a core area of economic development.
The listing underscores the continued importance of equity markets in mobilising capital for major companies and supporting broader economic activity.
