NGX confirms listing of 3.16bn UBA shares, boosting liquidity and market capitalisation

The Nigerian Exchange Limited (NGX) has officially listed an additional 3.16 billion ordinary shares of United Bank for Africa (UBA) Plc, further enhancing the bank’s market capitalisation and deepening liquidity in the capital market.

The confirmation came in a letter dated January 12, 2026, from Godstime Iwenkehai, Head of the Issuer Regulation Department at NGX, following the successful conclusion of UBA’s recent rights issue.

“Following the submission of all post-approval documents, please be informed that United Bank for Africa Plc’s Rights Issue of 3,156,869,665 ordinary shares of 50 Kobo each at N50 per share, on the basis of one new share for every 13 ordinary shares held, was formally listed on the Daily Official List of Nigerian Exchange Limited on Monday, 12 January 2026,” the letter stated.

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

“We welcome the formal confirmation from NGX on the listing of our rights issue shares. 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,” Alawuba said.

The bank’s rights issue follows a previous capital raise of N239 billion in November 2024, which had elevated its capital base to N355 billion. The latest rights issue has injected an additional N158 billion, bringing UBA’s total capital to N513 billion-surpassing the Central Bank of Nigeria’s (CBN) N500 billion minimum requirement for banks with international authorisation.

UBA is among the largest employers in Africa’s financial sector, with 25,000 employees serving over 45 million customers across twenty African countries, as well as the United Kingdom, United States, France, and the United Arab Emirates. The bank provides retail, commercial, and institutional banking services, drives financial inclusion, and continues to implement cutting-edge technology across its operations.