NGX lists 3.156 billion UBA shares, strengthening liquidity and pushing market value higher
The Nigerian Exchange Limited has approved the admission of 3.16 billion additional ordinary shares of United Bank for Africa Plc to its Daily Official List. The move represents a major boost to UBA’s market capitalisation and is expected to enhance liquidity within the equities market as trading volumes expand.
UBA remains one of Africa’s most influential financial institutions, employing about 25,000 people across its network and serving more than 45 million customers across its African and global franchises.
The NGX confirmed the listing through a formal communication to the bank dated January 12, 2026. The letter, signed by Godstime Iwenkehai, Head of Issuer Regulation at the Exchange, stated that the admission of the new shares followed the completion of all regulatory and post-approval requirements tied to 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 N50.00 per share on the basis of one new ordinary share for every 13 ordinary shares held were formally listed on the Daily Official List of Nigerian Exchange Limited (NGX) on Monday January 12, 2026”, Iwenkehai stated in the letter.
Receiving the confirmation, UBA Group Managing Director and CEO, Oliver Alawuba, described the listing as a clear demonstration of the bank’s momentum and continued market confidence in its growth blueprint.
“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. Needless to say that the additional capital will further support our Pan-African and global expansion, and enhance our capacity to deliver sustainable value to all stakeholders,” Alawuba stated.
UBA’s capital position has strengthened significantly over the past two years. The bank raised N239 billion in November 2024, lifting its capital base to N355 billion at the time. The latest rights issue has now added another N158 billion, bringing total capital to N513 billion.
With this new capital buffer, UBA’s qualifying capital now surpasses the Central Bank of Nigeria’s N500 billion minimum for banks with international authorisation. This places the institution comfortably above the recapitalisation threshold and reinforces its standing as one of the strongest and most adequately capitalised banks in the country’s financial system.
